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What is the effective rate of interest

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What is the effective rate of interest you will pay if you do not take advantage of the cash discounts given

  • 3/10, n/30? (Do not round intermediate calculations. Round your answer to two decimals, i.e. 12.34)

Answer: _____________

  • If you have $125,000 in an interest-bearing savings account that pays 2.7 percent annual interest, how much interest will you earn during a 30 day month?  (Round your answer to two decimal places, i.e. 12.34)

Answer:_______________

Reference no: EM132951464

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