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Assuming a 360-day year, the interest charged by the bank, at the rate of 7%, on a 90-day, discounted note payable of $106,326 is a.$106,326

Assuming a 360-day year, the interest charged by the bank, at the rate of 7%, on a 90-day, discounted note payable of $106,326 is

a.$106,326

b.$1,861

c.$3,722

d.$7,443

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