Multiple Choice
You are given that $2000 accumulates to $2032.88 at the end of 120 days at a simple interest rate equal to r.What is the equivalent simple discount rate,d,over the same 120-days period?
A) 5.00%
B) 4.92%
C) 4.53%
D) 1.62%
Correct Answer:
Verified
Correct Answer:
Verified
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