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Score: 0 of 1 pt 12 of 14 (12 complete) O Discounting Notes-1 (similar to) A...


Score: 0 of 1 pt 12 of 14 (12 complete) O Discounting Notes-1 (similar to) A man has a simple discount note for $6,600, at an
Score: 0 of 1 pt 12 of 14 (12 complete) O Discounting Notes-1 (similar to) A man has a simple discount note for $6,600, at an ordinary bank discount rate of 8.61%, for 40 days. What is the effective interest rate? Round to the nearest tenth of a percent. The offective interest rate is%. (Round to the nearest tenth of a percent as needed.) Enter your answer in the answer box and then click Check Answer. Ciear All All parts showing MacBook Air
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Answer page:oi Given details simple discount note = $6,600. (Amount) ordinary bank discount rate = 8.6144 . for 40 days. I pePage 2 o2. $62.22+ $ 6537.73 X 0.10958 $ 62.27 4716-4044 534 50.08692 Effeetive interest rate -8.69.4.1 loppxox)

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