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Check My Work Deepa signed a simple discount note for $6,000. The discount rate is 11%, and the term of the note is 3 months.

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Check My Work Deepa signed a simple discount note for $6,000. The discount rate is 11%, and the term of the note is 3 months. What is the effective interest rate? Round your answer to the nearest tenth percent. Do not enter the percent symbol in your answer. %

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