Post a New Question

Math

posted by on .

On May 12, Bob Campbell accepted a $5,000 note in granting a time extension of a bill of goods bought by Rick Ween. Terms of the note were 8% for 120 days. On July 8, Bob needed to raise cash and discounted the note at Rick's bank at a discount rate of 9%. Calculate Bob's proceeds.

I am getting 2 different answers...please show how you get your answer.

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question