Question: 7A) 7B) James signed a simple discount note for $10,000. The discount rate is 5%, and the term of the note is 18 months. What

7A)

7A) 7B) James signed a simple discount note for $10,000. The discount

7B)

rate is 5%, and the term of the note is 18 months.

James signed a simple discount note for $10,000. The discount rate is 5%, and the term of the note is 18 months. What is the effective interest rate? Round your answer to the nearest tenth percent. Do not enter the percent symbol in your answer. What are the proceeds of a note for $3,000 at a discount rate of 7%, for 33 months

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