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Define simple-interest approximation and compounding

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Question: A short-term note with a face value of $25,000 and a maturity of 60 days sells for $24,500. What is its effective yield? Compute using both the simple-interest approximation and compounding. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM131750438

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