Jay Discounts a 100-Day Note for $25,000 at 13

question 15

Multiple Choice

Jay discounts a 100-day note for $25,000 at 13%. The effective rate of interest to the nearest hundredth percent is:

• A)13.48%
• B)13.49%
• C)13.02%
• D)13.03%
• E)None of these

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Definitions:

Word

In the realm of computing, a data segment of predetermined size that is processed as a single entity by either the processor's instruction set or its hardware.

Logic Continuity

Logic continuity refers to the seamless and uninterrupted logical flow or progression within a system, ensuring that all logical operations are conducted without gaps or errors.

Output PL1

Denotes an output signal or data in the first programming language (PL/I), commonly used in control systems or programming.

Energized

A state in which a component, circuit, or system is supplied with electrical power, causing it to be active or in a working state.