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A $5,500,10% Note Dated May 20 for 78 Days Was

Question 3

Multiple Choice

A $5,500,10% note dated May 20 for 78 days was discounted on June 23 at 12%.The number of days in the discount period is:

A) 78 days.
B) 39 days.
C) 44 days.
D) some other number.

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