Assuming a 360-day year, the interest charged by the bank, at the rate of 6%, on...

Question

Question

Assuming a 360-day year, the interest charged by the bank, at the rate of 6%, on a 90-day, discounted note payable of $87,722 is

a. $1,316 b. $5,263 c. $2,632 d. $87,722

Answer 1

Answer #1

Answer 2

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