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Sam Peters needs to calculate the effective interest rate of a simple discount note for $3,600,...

Sam Peters needs to calculate the effective interest rate of a simple discount note for $3,600, at an ordinary bank discount

Sam Peters needs to calculate the effective interest rate of a simple discount note for $3,600, at an ordinary bank discount rate of 10%, for 130 days. Find the effective interest rate rounded to the nearest tenth of a percent. O A. 10.2% OB. 10.4% O C. 10.5% OD. 3%
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