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What proceeds received from the bank upon discounting

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Problem 1: A 120-day, 15% interest bearing note receivable is discounted to a bank at 18% after being held for 45 days. The proceeds received from the bank upon discounting would be the:

a. Maturity value less discount at 18% for 120 days

b. Maturity value less discount at 18% for 75 days

c. Maturity value less discount at 15% for 75 days

d. Maturity value less discount at 18% for 45 days

Reference no: EM132858945

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