Kenyatta purchased a $5,000 face value discount note for $4,925. The note will reach maturity in 39

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Kenyatta purchased a $5,000 face value discount note for $4,925. The note will reach maturity in 39 weeks, and the simple discount rate is 2%. What is the equivalent simple interest rate?

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Entrepreneurial Finance

ISBN: 978-0133140514

6th edition

Authors: Philip J. Adelman; Alan M. Marks

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Posted Date: Apr 07, 2024 05:39 AM

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Kenyatta purchased a $5,000 face value discount note for $4,925. The note will reach maturity in 39

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To find the equivalent simple interest rate we first need to calculate the simpl... View the full answer

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