Question: 1. For services rendered, an attorney accepts a 120-day note for $6,000 at a 8% simple interest from a client. (Both interest and principal are

1. For services rendered, an attorney accepts a 120-day note for $6,000 at a 8% simple interest from a client. (Both interest and principal are repaid at the end of 120 days.) Wishing to use her money sooner, the attorney sells the note to a third party for $6,060 after 30 days. What annual interest rate will the third party receive for the investment?

The third party will receive an annual interest rate of _____ % (two decimals.)

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