A $15,000, 6%, 50-Day Note Dated November 8, Is Discounted

question 92

Multiple Choice

A $15,000, 6%, 50-day note dated November 8, is discounted at 5% on November 28. The proceeds of the note would be:

• A)$14,936.46
• B)$15,610.64
• C)$63.54
• D)$15,061.98
• E)None of these

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Definitions:

Aqueous Humor

The clear fluid filling the space in the front of the eyeball between the lens and the cornea.

Glaucoma

Condition in which the fluid in the eye (aqueous humor) accumulates, increasing pressure in the eye and damaging nerve fibers.

Otoliths

Small crystals in the inner ear that contribute to the sense of balance by detecting movement and gravity.

Cochlear Nerve

A nerve that transmits sound information from the cochlea in the inner ear to the brain.