Ron bought goods from shelly katz. On may 8, shelly gave ron a time extension on his bill by accepting a $3000, 8%, 180 day note. On august 16, shelly discounted the note at Roseville bank at 9% what proceeds does shelly rerceive?

Answer 1

Solve this the same way as the other problem I just answered. Compute the present value of the note and discount it 9%

Answer 2

245.45