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Question 1 (1 point) Saved On October 31, 2021, Simeon Builders borrowed $16 million cash and issued a 7- month, noninterest-bearing note. The loan was

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Question 1 (1 point) Saved On October 31, 2021, Simeon Builders borrowed $16 million cash and issued a 7- month, noninterest-bearing note. The loan was made by Star Finance Co. The stated discount rate is 8%. Sky's effective interest rate on this loan is: Equal to the stated discount rate of 8%. More than the stated discount rate of 8%. Unrelated to the stated discount rate of 8%. Less than the stated discount rate of 8%

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