Question: Only need help with C & D. Thank you c. What is the bank discount? (Use 360 days a year. Do not round Intermediate calculations.



c. What is the bank discount? (Use 360 days a year. Do not round Intermediate calculations. Round your final answer to the nearest cent.) Bank discount d. What proceeds does Rex receive? (Use 360 days a year. Do not round Intermediate calculations. Round your final answer to the nearest cent.) Proceeds received Rex Corporation accepted a $9,000, 8%, 120-day note dated August 8 from Regis Company in settlement of a past bill. On October 11, Rex discounted the note at Park Bank at 9%. (Use Days in a year table.) a. What is the note's maturity value? (Use 360 days a year. Do not round Intermediate calculations. Round your final answer to the nearest cent.) Maturity value 9,240.00 TABLE 7-1 Exact days-in-a-yoar calendar (excluding leap year) Day of month 31 Jan 28 Feb. 31 Mar. 30 Apr. 31 May 30 June 31 July 30 Sept. 31 Dec. 1 2 182 183 184 3 4 185 156 157 186 187 188 8 Sse WN Day of month 31 Jan. 28 Feb. 31 Mar. 31 May 30 June 31 July 30 Sept. Aug. 30 Nov. 1 1 182 213 2 3 4 308 309 DOO 310 311 312 313 10 10 11 11 wasm wmrn2wa. 112 113 314 115
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