Question: 1. Find the discount and proceeds using the banker's rule on a promissory note for $1,980 at 8% made by Alexa Green on January 30, 2012, and payable to Enterprise Bank on July 30, 2012.
2. Allan Stojanovich can purchase an office desk for $1,500 with cash terms of 2/10, n/30. If he can borrow the money at 12% annual simple ordinary interest for 20 days, will he save money by taking advantage of the cash discount offered?