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    Practical Business Math Procedures Study Set 2
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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%, 180-Day\(3 / 4\)
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On July 18, Aui Lester Accepted a $15,000, 7%, 180-Day 3/43 / 43/4

Question 44

Question 44

Short Answer

On July 18, Aui Lester accepted a $15,000, 7%, 180-day note from Ryan O'Flynn. On October 5, Aui discounted the note at Brome Bank at 8%. What proceeds did Aui receive? Use ordinary interest.
3/43 / 43/4 1/41 / 41/4

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