Yo Yogurt received a promissory note of $15,500 for 16 months at 8% simple interest from one of its customers. After 9 months, the note was discounted at Gassaway Bank at a discount rate of 10%. What are the proceeds Yo Yogurt will receive from the discounted note? (Round to the nearest cent)
A) $13,846.67
B) $16,152.72
C) $17,153.33
D) $14,595.83

Question

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The Answer of Yo Yogurt received a promissory note of $15,500 for 16 months at 8% simple interest from one of its customers. After 9 months, the note was discounted at Gassaway Bank at a discount rate of 10%. What are the proceeds Yo Yogurt will receive from the discounted note? (Round to the nearest cent)
A) $13,846.67
B) $16,152.72
C) $17,153.33
D) $14,595.83

Yo Yogurt Received a Promissory Note of $15,500 for 16