Question
Webster Video received a promissory note of $8,000 for 9 months at 7% simple interest from one of its customers. After 4 months, the note
Webster Video received a promissory note of $8,000 for 9 months at 7% simple interest from one of its customers. After 4 months, the note was discounted at Jefferson Bank at a discount rate of 10%. What are the proceeds Webster Video will receive from the discounted note?
$10,587.99
$8,069.17
$12,110.00
$9,000.00
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Financial Crime Investigation And Control
Authors: K. H. Spencer Pickett, Jennifer M. Pickett
1st Edition
0471203351, 9780471203353
