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Ron Prentice bought goods from Shelly Katz. On April 16, Shelly gave Ron a time extension on his bill by accepting a $3,025, 9%,
Ron Prentice bought goods from Shelly Katz. On April 16, Shelly gave Ron a time extension on his bill by accepting a $3,025, 9%, 160- day note. On July 24, Shelly discounted the note at Roseville Bank at 11%. (Use Days in a year table.) What proceeds does Shelly Katz receive? Note: Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent. Proceeds received
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