Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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Question
What is the effective interest rate of a simple discount note for
​$34,500​,
at an ordinary bank discount rate of
14​%,
for
30
​days? Assume that there are 360 days in a year.
 
 
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