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A Merchant Receives an Invoice for a Motor Boat for $5000

Question 108

Multiple Choice

A merchant receives an invoice for a motor boat for $5000 with term 4/30,n/100.In order to take advantage of discount,he wants to borrow the required money.If he can borrow at r = 14%,how much money does he save?


A) $74.08
B) $71.12
C) $65.75
D) $63.12

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