A $8920 note is signed for 160 days at a discount rate of 6.5% find the proceeds

Since it's not mentioned in the problem, it can be safely assumed that the discount rate is 6.5% daily. For this problem, we use the formula:

F = P (1+rn)

where

r is the discount rate

n is the number of days

P is the original amount

F = $8920 (1+0.065*160)

F = $101,688