Question: Question Content Area Assuming a 3 6 0 - day year, proceeds of $ 4 9 , 3 3 6 were received from discounting a

Question Content Area
Assuming a 360-day year, proceeds of $49,336 were received from discounting a $50,472,90-day note at a bank. The discount rate used by the bank in computing the proceeds was
a.10%
b.7%
c.11%
d.9%

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