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Assuming a 360-day year, the interest charged by the bank, at the rate of 8%, on a 90-day, discounted note payable of $80,406 is a.
Assuming a 360-day year, the interest charged by the bank, at the rate of 8%, on a 90-day, discounted note payable of $80,406 is
a. $80,406
b. $1,608
c. $6,432
d. $3,216
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