Question 4 (3 points) Sam owns a bookstore

Subject:FinancePrice:2.86 Bought14

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Question 4 (3 points) Sam owns a bookstore. He bought stationary from SMART Company for a value of $2520 on November 13, 2020 using a financial instrument. After 220 days, Sam paid SMART $2863 cash. Sam bought the stationary using (treasury bills- cheque- interest bearing promissory note - non-interest bearing promissory note) Sam also purchased a bunch of A4 papers packs for $ 320 from SUCCESS Company on account for 175 days. After 83 days, SUCCESS required cash; consequently it sold the outstanding promissory notes. A/an (borrower - investor) bought the treasury bills- cheque- interest bearing promissory note - non-interest bearing promissory note) for $317.21when the money worth was 3.5% p.a.