Question
Bonner's, Inc. borrowed $36,000 for 4 months on a discount basis. The lender used an interest rate of 8% to calculate the discount. The amount
Bonner's, Inc. borrowed $36,000 for 4 months on a discount basis. The lender used an interest rate of 8% to calculate the discount. The amount of cash Bonner's, Inc. actually had available to use from this loan was:
| $33.120 | ||
| $35,040 | ||
| $36,000 | ||
| $36,960 |
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The Solitary Auditor
Authors: Michael Knapp
1st Edition
161163878X, 978-1611638783
