A borrower has two alternatives for a loan: (a)issue a $480,000,60-day,8% note or (2)issue a $480,000,60-day note that the creditor discounts at 8%.(Assume a 360-day year is used for interest calculations.)

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The Answer of A borrower has two alternatives for a loan: (a)issue a $480,000,60-day,8% note or (2)issue a $480,000,60-day note that the creditor discounts at 8%.(Assume a 360-day year is used for interest calculations.)

A Borrower Has Two Alternatives for a Loan: (A)issue a $480,000,60-Day,8