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A 90-day note for $1200 is signed on May 12. Seventy-five days later the note is deposited at a bank that charges 8% discount on notes. The bank discount is

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A 90-day note for $1200 is signed on May 12. Seventy-five days later the note is deposited at a bank that charges 8% discount on notes. The bank discount is






 
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