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A 60-Day, 12% Note for $11,000, Dated May 15, Is

Question 97

Multiple Choice

A 60-day, 12% note for $11,000, dated May 15, is received from a customer. The principal amount of the note is:

A) $220.
B) $11,220.
C) $10,780.
D) $11,000.

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