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Mathematics 21 Online
OpenStudy (anonymous):

Ray Furniture wants to buy a dining room set for $7,000 with a 20 percent trade discount. Ray needs the cash to pay the bill and is considering discounting a 90 day note dated May 12 with a maturity value of $6,500 at Highland Bank at a discount rate of 13 percent on June 5. The bank discount if Ray discounts the note is:

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