A real estate agent knows that he will receive a commission of $4,250 from the sale of a property when the deal is completed 37 days from now. Needing cash today, though, he signs a discount note at a credit union, using his expected commission as the maturity value. The discount rate is 9.55%. Find the effective rate (APR).

A plumbing contractor recieve proceeds of $4,1713.53 on a 12.5% simple discount note with a face value of $5,000. Find the time of the note in days.

You are due a $750 paycheck at the end of the week (Friday), but want to get your hands on the cash on Monday. Apayday lenderoffers to make this deal with you for a fee of 2% of the paycheck. What is the rate you are paying for this service? Assume a 365-day year.