ework - Math Review Question 6, Discounting Notes-1 (similar to) > HW Score: 62.5%, 5 of 8 points O Points: 0 of 1 A man has a simple discount note for $6,300, at an ordinary bank discount rate of 8.61%, for 40 days. What is the effective interest rate? Round to the nearest tenth of a percent The effective interest rate is %. Round fo the nearest tenth of a percent as needed.)