EXERCISE I $(4$ points$)$

$1$ year $=365$ days

TEST

Today, $27$ November $2021,$ a company discounts the following invoices

$$EUR $35,000$ due $20$ February $2022$

$$EUR $24,000$ due $23$ December $2021$

$$EUR $44,000$ due on $5$ March $2022$

a$)$Its banker paid it EUR $101,800$ on $27$ November $2021.$ What is the discount rate?

b$)$Find the amount it would have received on $27$ November $2021$ if the annual interest rate had been $5\mathrm{.}6\%.$

On $27$ November $2021,$ the company invested EUR $101,800$ in an investment paying $8\%$ per year. The bank charged $0\mathrm{.}3\%$ of the amount invested on that date to cover management fees.

On $2$ February $2022,$ it withdraws the amount obtained from this investment. It is informed that a tax of EUR $60$ will be levied.

c$)$ How much money will it have?

d$)$ What is the effective interest rate on this investment?