Question: ( 1 point ) ( Exercise 2 . 2 2 ) A bill for $ 3 0 0 is purchased for $ 2 9 2

(1 point)(Exercise 2.22) A bill for $300 is purchased for $292 five months before it is due. Find:
a) The nominal rate of discount convertible monthly earned by the purchaser.
ANSWER =
%.
h) The annual effective rate of interest earned by the purchaser.
ANSWER =
%.
(1 point)(Exercise 2.22) A bill for $300 is purchased for $292

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