Question: T&H Research and Consulting requires $330,000 to replace its mainframe computer. A bank will lend the funds on a simple discount note for 150

T&H Research and Consulting requires $330,000 to replace its mainframe computer. A

T&H Research and Consulting requires $330,000 to replace its mainframe computer. A bank will lend the funds on a simple discount note for 150 days at a discount rate of 11% Find the tace value required to produce proceeds of $330,000. Use this value to determine the effective interest rate. Use banker's interest of 360 days The face value of the note must be $ (Round to the nearest dollar) The effective rate of interest is (Round to the nearest tenth of a percent.)

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