Arnold Palmer, golfer, hinted today that the emphasis in the future will be on Arnold Palmer, businessman.

The 47-year-old people's choice, who finished his 23d Masters today (he won the title four times) said he was going to play in the Kemper Open, June 2-5 at Charlotte, N.C., and try to qualify in the sectional trials for the U.S. Open in the same city. Palmer won the Open in 1960 but gets only an exemption from local qualifying.

After the Kemper my plans are indefinite," said Palmer. "I have a lot of business to take care of, (including an automobile dealership in Charlotte) and after that I don't know."

Palmer came up the 18th fairway for his second shot this afternoon. The elbow-to-elbow crowd was quiet as he took out a seven-iron. He put the ball a foot from the hole for a birdie. The ovation was tremendous. The crowd cheered and applauded for minutes.

Palmer finished with 70, his third straight subparround, for an even par 283. He made five birdies today. "I birdied two of the first three holes and was thinking I'd get hot," he said. "I kept it going on the next three holes where I missed birdies on each. I got a bogey 6 on the eight hole and that put the fire out.

Lee Elder went three over par on the last three holes but came in with 71 for one-under-par 287 total.

Elder made a great try after starting the day at seven par 216. He went out in 34 and picked up three birdies and one bogey coming up to the 16th, a 190-yard carry over water. At that point, he was four under par.

"I hit a five-iron fat," he said, "and it went into the water. "I had to hit again from the tee. This time I got on the green 15 feet away and two-putted for a double-bogey five."

Elder ran into a problem again on the 17th, a 400-yard par four. His caddie wanted him to hit a seven-iron on his second shot but Elder elected to punch a six-iron. He went over the green, chipped back 10 feet away and missed.

"I really had it going," he sighed."It was a most enjoyable day until that 16th. The course was playing easy for birdies and I was thinking of maybe picking up a couple of more birds on the last three holes. How can a man go three over par on the last three?"

Elder got his first birdie on the third hole chipping in from 25 feet.He bogeyed the par-three sixth, pulling a five-iron but wedged the ball two feet from the cup for another birdie on the seventh.

He almost holed a six-iron on the ninth for what would have been and eagle. The ball slid past the cup two feet away and Elder tapped it in for another birdie.