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n September 1, 2024, Hiker Shoes issued a $113,000, 8-month, noninterest-bearing note. The loan was made by Second Commercial Bank where the stated discount rate
n September 1, 2024, Hiker Shoes issued a $113,000, 8-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 10.63%. 10.71%. 10.00%. 10.64%
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CyRM Mastering The Management Of Cybersecurity Internal Audit And IT Audit
Authors: David X Martin
1st Edition
0367757850, 978-0367757854
