Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. what is the effective interest rate of a simple di

What is the effective interest rate of a simple discount note for $25,100, at an...

90.2K

Verified Solution

Question

Accounting

image
What is the effective interest rate of a simple discount note for $25,100, at an ordinary bank discount rate of 12%, for 10 days? Assurne that there are 360 daya in a year The effective interestrate is (Found to the miarest tenth as needed.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

You may have heard that ice skaters actually skate on a thin layer of water rather...

Biology
1.2K views

Reactions require energy. The reaction that adds a new nucleoside to a growing chain of DNA...

Physics
1.2K views

A diffraction grating with 10 lines m is used to determine the wavelength of source...

Physics
1.2K views

copper wire of lengh1 1000 m and cross sectional area A 1 0 mm carries...

Geometry
1.2K views

Question 2 Points 2 Find the measure of side a 52 cm O 49 47...

Basic Math
1.2K views

7 What equation is represented by the graph O X

Accounting
1.2K views

Problem 7-15 The Affordable Care Act (LO 7.4) Susan and...

Accounting
1.2K views

Instructions: You will be recording the July 2023 transactions for Lenny's Lawn Service, Inc. After...

Accounting
1.2K views

Lightfoot Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative...

Accounting
1.2K views

Antalya Services Inc. began business and completed these transactions during the month of November:(a) Purchased...

Finance
1.2K views

What do you think is the most critical facility management issue in sports management based...

Finance
1.2K views

Which of the following statements regarding Net Present Value (NPV) is INCORRECT? A. When faced...