Multiple Choice
Solve the problem. Round rates to the nearest tenth of a percent, dollar amounts to the nearest cent, and time to the nearest day.
-Leon Harding receives proceeds of $5,095 after signing a 180-day note for $5,400. Find the discount rate.
A) 11.6%
B) 11.3%
C) 11.7%
D) 15.3%
Correct Answer:
Verified
Correct Answer:
Verified
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