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** For these problems, set the calculator date worksheet to a bankers' year - 360...

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Accounting

** For these problems, set the calculator date worksheet to a bankers' year - 360 days. 1. The effective rate of a $25,000 interest-bearing simple discount 10%, 90-day note is: (circle the correct answer) a) 10.62% b) 10% c) 10.40% d) 10.26%

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