A 120-day promissory note for $50,000 bears interest at r = 10%.It is sold 90-days before the maturity date to a bank that discounts the note at r = 15%.What does the bank pay for the note?
A)$49,742.71
B)$49,801.85
C)$49,782.29
D)$49,841.48

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The Answer of A 120-day promissory note for $50,000 bears interest at r = 10%.It is sold 90-days before the maturity date to a bank that discounts the note at r = 15%.What does the bank pay for the note?
A)$49,742.71
B)$49,801.85
C)$49,782.29
D)$49,841.48

A 120-Day Promissory Note for $50,000 Bears Interest at R