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Kenyatta purchased a $5,000 face value discount note for $4,925. The note will reach maturity in 39 weeks, and the simple discount rate is 2%.
Kenyatta purchased a $5,000 face value discount note for $4,925. The note will reach maturity in 39 weeks, and the simple discount rate is 2%. What is the equivalent simple interest rate?
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Entrepreneurial Finance
Authors: Philip J. Adelman; Alan M. Marks
6th edition
9780133099096, 133140512, 133099091, 978-0133140514
