Solve the Problem. -Tech Support Associates Accepts a $5,320, 7%, 240-Day Note for 240-Day

question 107

Multiple Choice

Solve the problem.
-Tech Support Associates accepts a $5,320, 7%, 240-day note for service equipment. The note is dated Sep 8. On Oct 29 the firm discounts the note at a bank, at a 9% discount rate. Find the
Proceeds.

• A)$5,363.63
• B)$5,305.17
• C)$5,303.77
• D)$5,254.90

---

Definitions:

Abdominal

Relating to the abdomen, the part of the body between the thorax and pelvis containing digestive organs.

Medial

Pertaining to or situated toward the midline of the body or a structure.

Exocrine Glands

Glands that release their secretions through ducts either to the external environment or into the digestive tract, unlike endocrine glands, which secrete hormones directly into the bloodstream.

Cystic Fibrosis

A genetic disorder that affects the respiratory, digestive, and reproductive systems, characterized by the production of thick, sticky mucus.