Question: Question 19 (1 point) Bam Doyen has a simple discount note for $6,250, at an ordinary bank discount rate of 9%, for 90 days. What

Question 19 (1 point) Bam Doyen has a simple discount note for $6,250, at an ordinary bank discount rate of 9%, for 90 days. What is the effective interest rate? Round to the nearest tenth of a percent

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Bam Doyen has a simple discount note for $6,250, at an ordinary bank discount rate of 9%, for 90 days. What is the effective interest rate? Round to the nearest tenth of a percent.

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