Question: For services rendered, an attorney accepts a 90 day note for $5, 500 at 8% simple interest from a client (both interest and principal are

For services rendered, an attorney accepts a 90 day note for $5, 500 at 8% simple interest from a client (both interest and principal are repaid at the end of 90 days). Wishing to use her money sooner, the attorney sells the note to a third party for $5,560 after 30 days. What annual interest rate will the third party receive for the investment?

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