Posted by **Anonymous** on Thursday, December 22, 2011 at 7:07pm.

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.

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