What is the effective rate of interest if loan is discounted

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Reference no: EM131581208

Mary Ott is going to borrow $14.600 for 45 days and pay S185 interest.

What is the effective rate of interest if the loan is discounted?

Use a 360-day year. Do not round intermediate calculations input your answer as a percent rounded to 2 decimal places.)

Reference no: EM131581208

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