# Promissory notes

Hafers, an electrical supply company, sold 4800.00 of equipment to Jim Coates Wing, INC Coates signed a promissory note May 12 with 4.5% intrest. The due date was August 10. Short of funds, Hafers contacted Charter One Bank on July 20th the bank agreed to take over the note at a 6.2% discount. What proceeds will Hafers Receive? Please use 360 and not 365

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1. You will find here at Jiskha that long series of questions, posted with no evidence of effort or thought by the person posting, will not be answered. We will gladly respond to your future questions in which your thoughts are included.

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2. 4836.44 proceeds

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