What is the effective interest rate (rounded) on a 3-month, noninterest-bearing note with a stated rate of

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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%
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
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