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Solve the Problem $4842\$ 4842 After Signing a 120 -Day Note For

Question 40

Multiple Choice

Solve the problem.
-Leon Harding receives proceeds of $4842\$ 4842 after signing a 120 -day note for $5000\$ 5000 . Find the discount rate. Round to the nearest tenth.


A) 9.6%9.6 \%
B) 7.6%7.6 \%
C) 4.8%4.8 \%
D) 3.2%3.2 \%

Correct Answer:

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