A Promissory Note Has a Face Value of $4500 and It

Multiple Choice

A promissory note has a face value of $4500 and it carries an interest rate of 8.73% for a period of 4 months (including the period of grace) . It is sold 3 months before the legal due date.What is the present value of the note on the date of sale if money is worth 8.2%?

A) $4573.92
B) $4537.92
C) $4357.92
D) $4592.37
E) $4777.92