Question: 15. value: 4.00 points Mary Ott is going to borrow $10,000 for 120 days and pay $140 interest. What is the effective rate of interest

15. value: 4.00 points Mary Ott is going to borrow $10,000

15. value: 4.00 points Mary Ott is going to borrow $10,000 for 120 days and pay $140 interest. What is the effective rate of interest if the loan is discounted? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Effective rate on a discounted loan

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