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    Practical Business Math Procedures Study Set 1
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    Exam 11: Promissory Notes, Simple Discount Notes, and the Discount Process
  5. Question
    On July 18, Aui Lester Accepted a $15,000, 7 3/4
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On July 18, Aui Lester Accepted a $15,000, 7 3/4

Question 19

Question 19

Essay

On July 18, Aui Lester accepted a $15,000, 7 3/4%, 180-day note from Ryan O'Flynn. On October 5, Aui discounted the note at Brome Bank at 8 1/4%. What proceeds did Aui receive? Use ordinary interest.

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