Question: Saved Help You were offered either a simple interest note or a simple discount note with the following terms: $21,601 at 6% for 18 months.

Saved Help You were offered either a simple interest note or a simple discount note with the following terms: $21,601 at 6% for 18 months. a. Calculate the effective interest rate. (Do not round Intermediate calculations. Round your final answer to the nearest tenth percent.) Effective interest rate % b. Based on the effective interest rate, which would you choose? simple interest note

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