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Given the following information concerning a promissory note: Principal $8,700 Interest Rate 13% Interest $377 Required: Determine the term of the note. Note: To simplify

Given the following information concerning a promissory note:

Principal $8,700

Interest Rate 13%

Interest $377

Required:

Determine the term of the note.

Note: To simplify the arithmetic in the problem, use 360 days for the number of days in a year.

Term:___________Days

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