Liana Ltd bought a bank bill on 7 January 2012 for $976 751 and sold it on

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Liana Ltd bought a bank bill on 7 January 2012 for $976 751 and sold it on 3 March 2012 for $987 618:

a. What simple interest rate (annual rate) did Liana Ltd earn?

b. What annual effective interest rate did Liana Ltd earn?

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0324659139

11th edition

Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones

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Posted Date: May 02, 2023 06:30 AM

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Liana Ltd bought a bank bill on 7 January 2012 for $976 751 and sold it on

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a To calculate the simple interest rate earned by Liana Ltd we need to find the interest e... View the full answer

Intermediate Accounting

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