Please explain this question in detail with the help of timeline.

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rate is 6% p.a. and the focal date is 90 days from now? 1. A 180 -day promissory note for $3,500 was issued on November 8,2014 with interest at 6% p.a. It was sold 80 days later to a finance company at a discount rate of 9% p.a. What price did the finance company pay for the promissory