Bonner's, Inc.borrowed $36,000 for 4 months on a discount basis.The lender used an interest rate of 8% to calculate the discount.The amount of cash Bonner's, Inc.actually had available to use from this loan was:

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The loan is on a discount basis, meaning the interest is deducted upfront. The interest for 4 months is calculated as $36,000 * 8% * (4/12) = $960. Therefore, the cash available is $36,000 - $960 = $35,040.