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help. 11 On September 1, 2024, Hiker Shoes issued a $111,000,6-month, noninterest-bearing note. The loan was made by Second Commercial Bank where the stated discount

help. 11
On September 1, 2024, Hiker Shoes issued a $111,000,6-month, noninterest-bearing note. The loan was made by Second Commercial Bank where the stated discount rate is 10%. Hiker's effective interest rate on this loan is: Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. Multiple Choice 10.00% 10.53% 10,46%. 10.45%

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