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Assuming a 360-day year, proceeds of $53,614 were received from discounting a $54,430, 90-day note at a bank. The discount rate used by the bank

Assuming a 360-day year, proceeds of $53,614 were received from discounting a $54,430, 90-day note at a bank. The discount rate used by the bank in computing the proceeds was 2 answers

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