Question: You were offered either a simple interest note or a simple discount note with the following terms: $39,242 at 9% for 18 months.a. Calculate the

You were offered either a simple interest note or a simple

You were offered either a simple interest note or a simple discount note with the following terms: $39,242 at 9% for 18 months.a. Calculate the effective interest rate. (Do not round intermediate calculations. Round your final answer to the nearest tenthpercent.)Effective interest rate%

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