Tech Support Associates Accepts a $5480, 8%, 210-Day Note for Service

question 31

Multiple Choice

Tech Support Associates accepts a $5480, 8%, 210-day note for service equipment. The note is dated Sep 5. On Oct 21 the firm discounts the note at a bank, at a 10% discount rate. Find the proceeds.

• A) $5420.97
• B) $5472.85
• C) $5474.44
• D) $5526.70

---

Definitions:

Income Distribution

The way in which a nation's total earnings are divided among its population.

Marginal Revenue Product

The extra income created by using an additional unit of a production resource or input.

Price of Labor

The wages or compensation workers receive in exchange for their labor, determined by various factors including skill level, demand, and economic conditions.

Elasticity of Demand

The quantification of the relationship between a good's price and its demand levels.