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Linda signed a simple discount note for $9,000. The discount rate is 5%, and the term of the note is 18 months. What is the
Linda signed a simple discount note for $9,000. The discount rate is 5%, and the term of the note is 18 months. What is the annual percentage yield (APY)? (Round to the nearest tenth percent)
| 5.4% | ||
| 6.2% | ||
| 4.9% | ||
| 3.8% |
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