Ralph Corporation accepted a $15,000, 11 percent, 120-day note dated August 19 from Jay Company in settlement of a past bill. On October 20, Ralph Corporation decided to discount the note at a discount rate of 12 percent. The proceeds to Ralph Corporation is:
Ralph Corporation accepted a $15,000, 11 percent, 120-day note dated August 19 from Jay Company in settlement of a past bill. On October 20, Ralph Corporation decided to discount the note at a discount rate of 12 percent. The proceeds to Ralph Corporation is:
@Mathematics

Question

Ralph Corporation accepted a $15,000, 11 percent, 120-day note dated August 19 from Jay Company in settlement of a past bill. On October 20, Ralph Corporation decided to discount the note at a discount rate of 12 percent. The proceeds to Ralph Corporation is:
  Ralph Corporation accepted a $15,000, 11 percent, 120-day note dated August 19 from Jay Company in settlement of a past bill. On October 20, Ralph Corporation decided to discount the note at a discount rate of 12 percent. The proceeds to Ralph Corporation is:
  @Mathematics