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A man has a simple discount note for $6,500, at an ordinary bank discount rate of 8.53%, for 50 days. What is the effective interest
A man has a simple discount note for $6,500, at an ordinary bank discount rate of 8.53%, for 50 days. What is the effective interest rate? Round to the nearest tenth of a percent The effective interest rate is (Round to the nearest tenth of a percent as needed.)
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Financial Accounting IFRS Principles
Authors: Ilse Lubbe, Goolam Modack, Alex Watson
4th Edition
0199049238, 9780199049233
