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:
a)$1,517.97
b)$1,517.79
c)$15,249.73
d)$15,249.37
E)None of these
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:
a)$1,517.97
b)$1,517.79
c)$15,249.73
d)$15,249.37
E)None of these
@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:
 a)$1,517.97
 b)$1,517.79
 c)$15,249.73
 d)$15,249.37
 E)None of these
 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:
 a)$1,517.97
 b)$1,517.79
 c)$15,249.73
 d)$15,249.37
 E)None of these
 @Mathematics