Question: Wann Electronics sold some computers for $7,000 and established a promissory note requiring 2.40% compounded monthly, and due in 3 years. After 1 year, the

Wann Electronics sold some computers for $7,000 and established a promissory note requiring 2.40% compounded monthly, and due in 3 years. After 1 year, the note was sold to a finance company for $5,549.42. What is the discounted rate, assuming it is compounded quarterly? Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34 56% Discount Rate = 0.00%

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