Brian signed a simple discount note for $8,500. The discount rate is 14%, and the term of the note is 18 months. What is the effective interest rate? (Round to the nearest tenth percent)
What will be an ideal response?
17.7%
Business
You might also like to view...
Private firms are entitled to conduct random drugs tests on their employees
Indicate whether the statement is true or false
Business
Prior to SAP, early enterprise resource planning programs were customized products where companies wrote their own programs to support their own processes
Indicate whether the statement is true or false
Business
Memory pages not held in primary storage are held in the __________ of a secondary storage device
Fill in the blank(s) with correct word
Business
Corporate shareholders generally receive less favorable tax treatment from a qualifying stock redemption than from a dividend distribution
a. True b. False Indicate whether the statement is true or false
Business