On september 1, 2018, hiker shoes issued a $102,000, 8-month, noninterest-bearing note. the loan was made by second commercial bank where the stated discount rate is 11%. hiker's effective interest rate on this loan (rounded) is: a. 11.8%b. 11.87%c. 11.00%d. 11.79%
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On september 1, 2018, hiker shoes issued a $102,000, 8-month, noninterest-bearing note. the loan was...
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