Solve the problem. Round rates to the nearest tenth of a percent as necessary, amounts to the nearest dollar, and time to the nearest day.Sam Peters signs a $4200 note. His bank charges a 10% discount rate. Find the effective rate charged by the bank if the note is for 10 months.

A. 9.9%
B. 10%
C. 11%
D. 10.9%


Answer: D

Mathematics

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