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.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

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.

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