Multiple Choice
Ralph Corporation accepted a $15,000, 11%, 120-day note dated August 19, from Jay Company in settlement of a past bill. On October 20, Ralph Corporation decided to discount the note at a discount rate of 12%. The proceeds to Ralph Corporation are:
A) $1,517.97
B) $1,517.79
C) $15,249.73
D) $15,249.37
E) None of these
Correct Answer:
Verified
Correct Answer:
Verified
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