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QUESTION
On May 12, Scott Rinse accepted an $13,000, 9%, 90-day note for a time extension of a bill for goods bought by Ron Prentice. On June 12, Scott discounted the note at Able Bank at 8%. (Use Days in a ye
On May 12, Scott Rinse accepted an $13,000, 9%, 90-day note for a time extension of a bill for goods bought by Ron Prentice. On June 12, Scott discounted the note at Able Bank at 8%. (Use Days in a year table.) What proceeds does Scott receive?
