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How much did harmless pay sue for the note

Marilyn borrows $600 from Sue on February 14, 2010 for 11 months at11.5% simple interest. Then, 5 months before maturity, Sue sellsthe note to B. Harmless who discounts it based on a bank discountrate of 14.25%.

a. How much did B. Harmless pay Sue for the note?

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Solution Preview :

Prepared by a verified Expert

Finance Basics: How much did harmless pay sue for the note

Reference No:- TGS0678437

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

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Solution Preview :

Prepared by a verified Expert

Finance Basics: How much did harmless pay sue for the note

Reference No:- TGS0678437

Recent Questions Asked Finance Basics

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Q : How much did harmless pay sue for the note

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