A man has a simple discount note for 6600 at an ordinary


Problem

A man has a simple discount note for $6,600, at an ordinary bank discount rate of 8.84%, for 60 days. What is the effective interest rate?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: A man has a simple discount note for 6600 at an ordinary
Reference No:- TGS02705540

Expected delivery within 24 Hours