Question: on October 1 5 , Eric accepted a $ 5 , 0 0 0 , 6 0 - day, 8 % note from Nisha Granting

on October 15, Eric accepted a $5,000,60-day, 8% note from Nisha Granting a time extension on a past-due amount. Eric discounted the note at valve bank at 9% on October 26. use ordinary interest. calculate Eric's proceeds.

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