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A bank note is discounted at 6% in order to take advantage of the cash discount On an invoice for $8,080.00 plus shipping charge

A bank note is discounted at 6% in order to take advantage of the cash discount On an invoice for $8,080.00 plus shipping charge of $42.00. The credit terms Are 2/15, n/45. c. What is the face value of the loan? d. How much did the bank earn on this transaction? e. How much was saved?

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