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teyodani teyodani
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5 days ago
Solve the problem. Round rates to the nearest tenth of a percent, dollar amounts to the nearest cent, and time to the nearest day.

Sam Peters signs a $4,000 note. His bank charges a 11% discount rate. Find the effective rate charged by the bank if the note is for 6 months.

▸ 11.7%

▸ 11%

▸ 10.8%

▸ 11.6%
Textbook 
Business Mathematics

Business Mathematics


Edition: 15th
Authors:
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Hello32hello3Hello32hello3
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