Ron prentice bought goods from shelly katz on june 12, Ask an Expert

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Ron Prentice bought goods from Shelly Katz. On June 12, Shelly gave Ron a time extension on his bill by accepting a $3,200, 9%, 175-day note. On Sept. 15, Shelly discounted the note at Roseville Bank at 7%. (Use Days in a year table.)

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

Proceeds received $

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92760406

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