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On March 15, Quagmire Co. issued an $80,000, 5%, 90-day note to Swanson Inc. Compute the amount of cash that Quagmire Co. will pay to

On March 15, Quagmire Co. issued an $80,000, 5%, 90-day note to Swanson Inc. Compute the amount of cash that Quagmire Co. will pay to Swanson Inc. at maturity. For the purpose of this question, assume (a) 360 days in a year, and (b) all interest will be paid at maturity.

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