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What is the effective Interest rate (rounded) on a 3-month, noninterest-bearing note with a stated rate of 12.4% and a maturity value of $205,000? (Do

What is the effective Interest rate (rounded) on a 3-month, noninterest-bearing note with a stated rate of 12.4% and a maturity value of $205,000? (Do not round Intermediate calculations. Round final answer to 1 decimal place.) Multiple Choice 12.8%. 12.4% 11.8% 13.8%

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