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What is the effective interest rate of a simple discount note for $2,700 at a bank discount rate of 12.25%, for 36 months?
What is the effective interest rate of a simple discount note for $2,700 at a bank discount rate of 12.25%, for 36 months?
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Managerial Accounting
Authors: Ray H Garrison, Alan Webb, Theresa Libby
11th Canadian Edition
1259275817, 978-1259275814
