What is the annual interest rate earn by the holder of note, Financial Accounting

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What is the annual interest rate earn by the holder of note

Problem

Banksia Ceramics Limited draws a promissory note with a face value of $50 000 and a maturity of 181 days. The note can be discounted for $48 090. What is the annual interest rate earned by the holder of the note (assuming that the holder of the note will keep it until maturity)?

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Financial Accounting: What is the annual interest rate earn by the holder of note

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Financial Accounting: What is the annual interest rate earn by the holder of note

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