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The effective interest on a 12-month, zero-interest-bearing note payable of $400000, discounted at the bank at8% is: A 16.63%. B 8.70%. C 7.41%. D 8.00%.

The effective interest on a 12-month, zero-interest-bearing note payable of $400000, discounted at the bank at8% is:

A 16.63%. B 8.70%. C 7.41%. D 8.00%.

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