Find the Proceeds to the Nearest Cent When the Following

question 48

Multiple Choice

Find the proceeds to the nearest cent when the following is discounted.
-Maturity value: $11,000 Discount period: 90 days
Discount rate: 10.6%

• A)$9,934.00
• B)$9,834.00
• C)$10,712.49
• D)$10,708.50