Jim Lends $8000 to Sally on September 23,2006

Multiple Choice

Jim lends $8000 to Sally on September 23,2006.Sally signs a promissory note,with the note due in 10 months.The maturity value of the note is $8536.55.Jim sells the note to a bank on February 23,2007.If the bank wishes to earn r = 8%,what price does Jim get for the note?

A) $8259.57
B) $8261.18
C) $8264.83
D) $8268.27