What is the effective interest rate (rounded) on a 3-month, noninterest-bearing note with a stated rate of 12% and a maturity value of $200,000?
A. 12.4%.
B. 12.0 %.
C. 11.5%.
D. 3.0%.
Answer: A
What is the effective interest rate (rounded) on a 3-month, noninterest-bearing note with a stated rate of 12% and a maturity value of $200,000?
A. 12.4%.
B. 12.0 %.
C. 11.5%.
D. 3.0%.
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.