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  3. a man has a simple discount note for $6,400, at an

A man has a simple discount note for $6,400, at an ordinary bank discount rate...

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Accounting

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A man has a simple discount note for $6,400, at an ordinary bank discount rate of 8.84%, for 60 days. What is the effective interest rate? Round to the nearest tanth of a percent. The effective interest rate is (Round to the nearest tenth of a petcent ast needed.)

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