A $120,000, 5%, 200-Day Note Dated June 6, Is Discounted

question 51

Multiple Choice

A $120,000, 5%, 200-day note dated June 6, is discounted on October 8. The discount period is:

• A)124 days
• B)76 days
• C)142 days
• D)67 days
• E)None of these

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Definitions:

Owner

An Owner is the individual or entity that legally holds the rights to possess, use, and dispose of property, assets, or a business.