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No More Pencils, Incorporated, disburses checks every 1 week that average $70,000 and take 8 days to clear. How much interest can the company

No More Pencils, Incorporated, disburses checks every 1 week\ that average $70,000 and take 8 days to clear. How much interest can the company earn annually if it delays transfer of funds from an interest-bearing account that pays 0.02 percent per day for these 8 days? Ignore the effects of compounding interest. Multiple Choice $5,824.00 $6,056.96 $112.00 $582,400.00 $5,591.04

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