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  3. anderson co. issued a $57,947, 60-day, discounted

Anderson Co. issued a $57,947, 60-day, discounted note to National Bank. The discount rate is...

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Accounting

Anderson Co. issued a $57,947, 60-day, discounted note to National Bank. The discount rate is 8%. At maturity, assuming a 360-day year, the borrower will pay:

a.$58,720

b.$57,174

c.$57,947

d.$53,311

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