Ron Prentice bought a goods from Shelly Katz. On May 8, Shelly gave Ron a time extension on his bill by accepting a 3000.00, 8%, 180-day note. On August 16, Shelly discounted the note at Roseville Bank at 9%. What proceeds does Shelly Receive? Please use 360 days and not 365

Question

Ron Prentice bought a goods from Shelly Katz.  On May 8, Shelly gave Ron a time extension on his bill by accepting a 3000.00, 8%, 180-day note.  On August 16, Shelly discounted the note at Roseville Bank at 9%.  What proceeds does Shelly Receive?  Please use 360 days and not 365

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