Discounting note receivable accounting homework?

• bank blood
• purchase life insurance

Riley has $100,000 note receivable from customer. the note receivable is 8% note , due in 9 months. three months after accepting note , Riley discounts note receivable at Third Bank at discount rate of 10%. What are cash proceeds of discounted note?


Answer was $100,700 but I don't get why



Please explain with steps

Discounting note receivable accounting homework?