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On July 10, Sally Morrick Financial Services bought a $15,000 promissory note. The note had been written on May 8, was for 120 days,
On July 10, Sally Morrick Financial Services bought a $15,000 promissory note. The note had been written on May 8, was for 120 days, and had an interest rate of 8%. Sally's company discounted the note at 10%. 4a.) Interest Amount: 4b.) Maturity Value: 4c.) Maturity Date: 4d.) Days of discount: 4e.) Discount amount: 4f.) Proceeds:
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