The Effective Rate of a $30,000 Non-Interest-Bearing Simple Discount 5

question 73

Multiple Choice

The effective rate of a $30,000 non-interest-bearing simple discount 5%, 60-day note is:

• A)5.0%
• B)5.04%
• C)6.0%
• D)5.14%
• E)None of these

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Definitions:

Achievement Behaviors

Actions taken by individuals aimed at accomplishing specific goals, reflecting a person's desire to achieve success and demonstrate competence.

New Project

The initiation and planning of a novel task or endeavor, often requiring organized effort and resources.

Supportive Behaviors

Actions aimed at showing care and consideration towards others, especially in a work or team environment.

Supervisor

An individual in a position of overseeing and managing the work of others, usually with direct authority over their activities.