Question: QI Mr. A has a note for $2500 dated June 8, 2020. The note is due in 3 months with simple interest at 11%.

QI Mr. A has a note for $2500 dated June 8, 2020.

QI Mr. A has a note for $2500 dated June 8, 2020. The note is due in 3 months with simple interest at 11%. a) If Mr. A discounts the note on August 1, 2020, from a bank charging 8% simple discount rate. What will the proceeds be? b) If the note is discounted at j4-8%, what are the discounted proceeds? (2) (2)

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