What is the effective interest rate (rounded) on a 3-month, noninterest-bearing note with a stated rate of
Question:
(a). 12.4%
(b). 12.0 %
(c). 11.5%
(d). 3.0%
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
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D is the correct answer Effective interest rate As we ...View the full answer
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