Solved

Solve the Problem. -Tech Support Associates Accepts a $5,320, 7%, 240-Day Note for 240-Day

Question 107

Multiple Choice

Solve the problem.
-Tech Support Associates accepts a $5,320, 7%, 240-day note for service equipment. The note is dated Sep 8. On Oct 29 the firm discounts the note at a bank, at a 9% discount rate. Find the
Proceeds.


A) $5,363.63
B) $5,305.17
C) $5,303.77
D) $5,254.90

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q102: Answer the question.<br>-Under what circumstances would a

Q103: Find the maturity value of the simple

Q104: Solve the problem.<br>-A holder of a $3,000,

Q105: Find the rate. Round to the nearest

Q106: Find the maturity date and proceeds. Round

Q108: Solve the problem.<br>-Central Building Company borrowed $18,722

Q109: Find the discount period.<br>-Loan made: July 11<br>Length

Q110: Find the amount by which the ordinary

Q111: Solve the problem. Round dollar amounts to

Q112: The simple interest note was discounted at