Multiple Choice
Bonner's, Inc.borrowed $36,000 for 4 months on a discount basis.The lender used an interest rate of 8% to calculate the discount.The amount of cash Bonner's, Inc.actually had available to use from this loan was:
A) $33,120.
B) $35,040.
C) $36,000.
D) $36,960.
Correct Answer:
Verified
Correct Answer:
Verified
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