After being held for 30 days, a 90-day 15% interest bearing note receivable was discounted at M & T Bank at 18%.
The proceeds received from the bank upon discounting would be the:
a) Maturity value less the discount at 18%.
b) Maturity value plus the discount at 18%.
c) Face value less the discount at 18%.
d) Face value plus the discount at 18%.
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
(Save $1 )
One time Pay
(Save $5 )
Billed Monthly
*First month only
You can see the logs in the Dashboard.
