Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Question 20
On July 20, 2021, Benildo Corp. discounts a 120 days, 15% P250,000 note of a
customer dated July 10, 2021 with the Fiesta Financing Co. at 18%. How much will
be the cash proceeds from discounting the customer note?
P262,500
P235,562.50
P248,062.50
P250,000
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Transcribed Image Text:Question 20 On July 20, 2021, Benildo Corp. discounts a 120 days, 15% P250,000 note of a customer dated July 10, 2021 with the Fiesta Financing Co. at 18%. How much will be the cash proceeds from discounting the customer note? P262,500 P235,562.50 P248,062.50 P250,000
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