Find the cost of this short-term financing for pace

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Reference no: EM13766227

Pace Company has borrowed $60,000 from PNC Bank. To repay the loan, it will make two payments, each one $31,000, at the end of 30 days and 60 days.

Find the cost of this short-term financing for Pace.

Show all steps and calculations.

Reference no: EM13766227

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