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  3. for services rendered, an attorney accepts a 120-d

For services rendered, an attorney accepts a 120-day note for $4,300 at 8% simple interest...

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Accounting

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For services rendered, an attorney accepts a 120-day note for $4,300 at 8% simple interest from a client. (Both interest and principal are repaid at the end of 120 days.) Wishing to use her money sooner, the attorney sells the note to a third party for $4,380 after 30 days. What annual interest rate will the third party receive for the investment? The third party will receive an annual interest rate of %. (Type an integer or decimal rounded to two decimal places as needed.)

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