Robinson's, an electrical supply company, sold $6,600 of equipment to Jim Coates Wiring, Inc. Coates signed...

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Robinson's, an electrical supply company, sold $6,600 of equipment to Jim Coates Wiring, Inc. Coates signed a promissory note May 12 with 3.8% interest. The due date was August 10. Short of funds, Robinson's contacted Capital One Bank on July 20; the bank agreed to take over the note at a 5.5% discount. (Use Days in a year table.) What proceeds will Robinson's receive? (Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.) Proceeds received Robinson's, an electrical supply company, sold $6,600 of equipment to Jim Coates Wiring, Inc. Coates signed a promissory note May 12 with 3.8% interest. The due date was August 10. Short of funds, Robinson's contacted Capital One Bank on July 20; the bank agreed to take over the note at a 5.5% discount. (Use Days in a year table.) What proceeds will Robinson's receive? (Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.) Proceeds received

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The days are May 12 to Aug 10 Length 3112 Jdays 30 days 3ldlays 1odays 19 30 31 10 L... View the full answer