Effective interest rate on the loan

Reference no: EM13122118

Knique Shoes issued a 100,000, 8 month, noninterest-bearing note. The loan was made by Second Commercial Bank whose stated discount rate is 9%. The effective interest rate on this loan (rounded) is:

a. 9.49%

b. 9.28%

c. 9.57%

d. 9.50%

Reference no: EM13122118

Questions Cloud

Use of logic and rhetorical choices. : Write an informed, thoughtful, organized, and original argument. Find, analyze, and synthesize appropriate and varied research into an argumentative essay. Articulate and develop an original claim. Demonstrate an understanding and adequate use ..

Illustrate what information is critical to collect : Your thoughts about illustrate what information is critical to collect at the outset of or early on in the interview process. Explain the upsides and downsides/concerns of having to gather this information and address related issues in a first se..

Consider two hypothetical recessive autosomal genes a and b : Consider two hypothetical recessive autosomal genes a and b, where a heterozygote is testcrossed to a double-homozygous mutant. Predict the phenotypic ratios under the following conditions. For parts B, C, and D the mutations are in cis.

What is the probability that three points chosen : If n points are equally spaced on the circumference of a circle, what is the probability that three points chosen at random will form a right triangle?

Effective interest rate on the loan : Knique Shoes issued a 100,000, 8 month, noninterest-bearing note. The loan was made by Second Commercial Bank whose stated discount rate is 9%. The effective interest rate on this loan (rounded) is:

Illustrate what are the possible weaknesses in the kimberely : Illustrate what are the possible weaknesses in the Kimberely Process? Illustrate what role do you think the three sectors will have in addressing these weaknesses?

Conduct a t-test to check the statistical validity : How concerned should this company be about price discounts by itsleading competitors and conduct a t-test to check the statistical validity of the estimated equationat 95 percentconfidence.

Find mechanisms to ensure unidirectional movement : Motor proteins use the energy in ATP to transport organelles, rearrange elemts of cytoskeleton during cell migration, and move chromosomes during cell division. Which of the following mechanisms is sufficient to ensure the unidirectional movement ..

What is the probability of each of them winning : the coin is returned to Al and the entire process begins again. The game continues until soneone gets heads. What is the probability of each of them winning?

User Account

All Pages