Answer:
Total proceeds = 52000
so correct option is a. $52,000
Explanation:
given data
purchased = $60,000
rate = 12 %
sold = $50,000
to find out
What are the total proceeds
solution
we get here Total proceeds from the February 1 sale will be express as
Total proceeds = [ sold × accrued interest ] + [ sold × rate × 1 ]
put here value
Total proceeds = [ 50000 × 1.03 ] + [ 50000× [tex]\frac{.12}{12}[/tex] × 1 ]
Total proceeds = 51500 + 500
Total proceeds = 52000
so correct option is a. $52,000
