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Required information [The following information applies to the questions displayed below.] On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $122,400

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Required information [The following information applies to the questions displayed below.] On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $122,400 on December 31, 2022. The proceeds of the note were $114,600. Required: a. Calculate the discount rate used by the lender. Note: Enter your answer as a percentage rounded to 1 decimal place (i.e., 32.1). Required information [The following information applies to the questions displayed below] On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $122,400 on December 31,2022 . The proceeds of the note were $114,600. b. Calculate the effective interest rate (APR) on the loan. Note: Enter your answer as a percentage rounded to 1 decimal place (i.e., 32.1). Answer is complete but not entirely correct

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