Question: Assume that the $ 3 , 0 0 0 , 8 . 5 % , 9 0 - day note receivable from Pluto dated June

Assume that the $3,000,8.5%,90-day note receivable from Pluto dated June 8 is discounted by Saturn at the bank on July 8 at a rate of 7%. 

What  would be the discount amount?

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