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Ron Prentice bought goods from Shelly Katz. On June 12, Shelly gave Ron a time extension on his bill by accepting a $3,600, 8%, 170-day
Ron Prentice bought goods from Shelly Katz. On June 12, Shelly gave Ron a time extension on his bill by accepting a $3,600, 8%, 170-day note. On Sept. 12, Shelly discounted the note at Roseville Bank at 8%. (Use Days in a year table.)
What proceeds does Shelly Katz receive? (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
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