Multiple Choice
Shelley Corporation discounted a $7,000, 90-day note dated June 18, at the Sunshine Bank on July 18 at a discount rate of 12%. (Assume the $7,000 is the maturity value.) The amount of bank discount is:
A) $70
B) $210
C) $140
D) $240
E) None of these
Correct Answer:
Verified
Correct Answer:
Verified
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