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Solve the problem.The Gibralter Company loaned $5,074 for 150 days to the Hazen Company for the ...

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Solve the problem.The Gibralter Company loaned $5,074 for 150 days to the Hazen Company for the ...

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The Gibralter Company loaned $5,074 for 150 days to the Hazen Company for the purchase of business supplies. The Gibralter Company sold the 9% simple interest note 45 days later at an 10% discount rate. Find the discount period and the discount.

▸ Discount period: 105 days
Discount: $153.54

▸ Discount period: 105 days
Discount: $142.44

▸ Discount period: 105 days
Discount: $151.36

▸ Discount period: 195 days
Discount: $285.15

Textbook

Business Mathematics

Edition: 15^th

Authors: Clendenen, Moninger

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