On may 12 scott rinse accepted an 6500 15 90-day note for a, Ask an Expert

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On May 12, Scott Rinse accepted an $6,500, 15%, 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 14%. (Use Days in a year table.)

What proceeds does Scott receive? (Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.)

Proceeds received $

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92760398

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