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Assuming a 360-Day Year, When a $30,000, 90-Day, 5% Interest-Bearing

Question 128

Multiple Choice

Assuming a 360-day year, when a $30,000, 90-day, 5% interest-bearing note payable matures, total payment will amount to:

A) $31,500
B) $1,500
C) $30,375
D) $375

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