3. On July 3, Adrian Rodriguez accepted a $6,000, 9.5%, 90-day note for merchandise purchased by Teresa Miller. On September 10, Adrian discounted the note at BB & T Bank at 10%. What proceeds does Adrian receive? Assume a 360-day year. 4. Zakir Darmati is looking at a motorcycle that costs $1,850. He is wondering how much he will have to borrow to end up with that amount if the bank will give him a 6.8% discount rate for 90 days. Round to the nearest cent.
3. On July 3, Adrian Rodriguez accepted a $6,000, 9.5%, 90-day note for merchandise purchased by Teresa Miller. On September 10, Adrian discounted the note at BB & T Bank at 10%. What proceeds does Adrian receive? Assume a 360-day year. 4. Zakir Darmati is looking at a motorcycle that costs $1,850. He is wondering how much he will have to borrow to end up with that amount if the bank will give him a 6.8% discount rate for 90 days. Round to the nearest cent.
Chapter6: Business Expenses
Section: Chapter Questions
Problem 89TPC
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![3. On July 3, Adrian Rodriguez accepted a $6,000, 9.5%, 90-day note for merchandise
purchased by Teresa Miller. On September 10, Adrian discounted the note at BB & T
Bank at 10%. What proceeds does Adrian receive? Assume a 360-day year.
4. Zakir Darmati is looking at a motorcycle that costs $1,850. He is wondering how much
he will have to borrow to end up with that amount if the bank will give him a 6.8%
discount rate for 90 days. Round to the nearest cent.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F06d0c186-1684-4b27-abae-2a0583184ff9%2Ff8009fea-3999-4ec5-a9d4-c77f06ef1441%2F7ncfp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:3. On July 3, Adrian Rodriguez accepted a $6,000, 9.5%, 90-day note for merchandise
purchased by Teresa Miller. On September 10, Adrian discounted the note at BB & T
Bank at 10%. What proceeds does Adrian receive? Assume a 360-day year.
4. Zakir Darmati is looking at a motorcycle that costs $1,850. He is wondering how much
he will have to borrow to end up with that amount if the bank will give him a 6.8%
discount rate for 90 days. Round to the nearest cent.
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