Question: SA 90-day, 12% note for S 10,000, dated May 1, is received from a customer on account. The maturity value of the note is a.

SA 90-day, 12% note for S 10,000, dated May 1, is received from a customer on account. The maturity value of the note is a. $10,000 $10,300 c. $450 d. $9,550 6.A 60-day, 12% note for $10,000, dated May 1, is received from a customer on account. If the note is discounted on May 21 at 15%, the proceeds are a. $170 b. $9,830 c. $10,000 d. $10,030 7.A 60-day, 12% note received from a customer for $50,000, dated May 15, is endorsed to the bank on May 25 and the bank discounts the note at 15%. If the maker dishonors the note and the bank charges a $20 protest fee, what is the amount payable to the bank on July 14? a. $51,000 b. $51,020

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