A 90-day noted dated June 30 for $2,000 at an interest rate of 5.5% was sold on July 15, discounted at 8%. What were the proceeds of the note on July 15?

Name: A 90-day noted dated June 30 for $2,000 at an interest rate of 5.5% was sold on July 15, discounted at 8%. What were the proceeds of the note on July 15?
Brand: Quizplus
Rating: 4.8 (31 reviews)

Question

Quizplus · Accepted Answer

The Answer of A 90-day noted dated June 30 for $2,000 at an interest rate of 5.5% was sold on July 15, discounted at 8%. What were the proceeds of the note on July 15?

A 90-Day Noted Dated June 30 for $2,000 at an Interest