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The Bank Discounts an $8,750 Non-Interest-Bearing Simple Discount Note at 6

Question 44

Multiple Choice

The bank discounts an $8,750 non-interest-bearing simple discount note at 6% for 60 days. What is the discounted amount?

A) $8.75
B) $78.50
C) $86.30
D) $87.50
E) None of these

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