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A man has a s ple discount note for S6500, at an ordinary bank discount rate of 8.61% for 60 days what is the effective

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A man has a s ple discount note for S6500, at an ordinary bank discount rate of 8.61% for 60 days what is the effective interest rate? Round to the nearest tenth of a percent The effective interest rate is 1 % Round to the nearest tenth of a percent as needed)

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