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Company D is a merchandiser of MLB Hats. One of their biggest customers calls Company D and expresses concerns over their ability to pay

 

Company D is a merchandiser of MLB Hats. One of their biggest customers calls Company D and expresses concerns over their ability to pay the $20,000 owed to Company D. Company D agrees to covert the Receivable into a 60-day note with 9% interest. What is the total interest that the customer will pay to Company D at the end of the 60 days? Use a 360 day year calculation.

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