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A company issues a 60-day, 12% note for $16,000. What is the principal amount of the note? (Round your answer to the nearest dollar.)

A company issues a 60-day, 12% note for $16,000. What is the principal amount of the note? (Round your answer to the nearest dollar.) A) $17,920 B) $16,000 C) $15,680 D) $16,320

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