Question: round to 2 decimal places Return to questio Problem 8-6 Effective rate on discounted loan [LO8-2] Sol Pine borrows $4,200 for one year at 8

round to 2 decimal places Return to questio Problem 8-6 Effective

round to 2 decimal places

Return to questio Problem 8-6 Effective rate on discounted loan [LO8-2] Sol Pine borrows $4,200 for one year at 8 percent interest. What is the effective rate of interest if the loan is discounted? (Do not round intermediate calculations. Use a 360-day year. Input your answer as a percent rounded to 2 decimal places.) Answer is complete but not entirely correct. Effective rate on a discounted loan 8.04 X %

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