Answer the question.Acme Manufacturing Company needs to borrow $150,000.00 for 50 days to pay creditors. One way to get the money would be by way of a simple interest note with a rate of 8% and a principal of $150,000.00. At what discount rate would a simple discount note with proceeds of $150,000.00 have to be given to match the simple interest note? Round to the nearest ten-thousandths of a percent.

Question

Fill in the blank(s) with the appropriate word(s).

Answer 1

7.9121%