Find the Proceeds to the Nearest Cent When the Following

question 35

Multiple Choice

Find the proceeds to the nearest cent when the following is discounted.
-Maturity value: $88,400 Discount period: 89 days
Discount rate: 9%

• A)$80,544.00
• B)$86,433.10
• C)$86,460.04
• D)$80,444.00

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Definitions:

Remedy

Legal means for enforcing a right or redressing a wrong, including compensation, injunction, specific performance, and other forms of relief.

Covenant Not To Compete

A legal agreement in which one party agrees not to enter into or start a similar profession or trade in competition against another party.

Restraint Of Trade

Any activity or agreement that restricts competition or interferes with free commerce in the marketplace.

Courts

are judicial institutions with the authority to settle disputes, interpret the law, and administer justice in civil, criminal, and administrative matters.