Question: On August 1 , 2 0 2 2 , Colombo Company s treasurer signed a note promising to pay $ 1 2 1 , 8

On August 1,2022, Colombo Companys treasurer signed a note promising to pay $121,800 on December 31,2022. The proceeds of the note were $116,400.
Required:
a. Calculate the discount rate used by the lender.
Note: Enter your answer as a percentage rounded to 1 decimal place (i.e.,32.1).

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