A $15,000, 11%, 120-Day Note Dated Sept

question 16

Multiple Choice

A $15,000, 11%, 120-day note dated Sept. 3, is discounted on Nov. 11. Assuming a bank discount rate of 9%, the proceeds would be:

• A)$15,550.00
• B)$15,351.74
• C)$15,531.74
• D)$15,135.47
• E)None of these

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Definitions:

Negation

The contradiction or denial of something, or the operation of inverting the truth value in logic.

UI

An abbreviation often standing for "User Interface," which refers to the means by which a user interacts with a computer, website, or application.

Simp

In internet slang, a simp is someone who does too much for a person they like, but in mathematical contexts, simp could refer to a simplification of an expression or equation.

Add

To combine one quantity with another to find the total or sum.