What Is the Implicit Effective Annual Interest Rate on a Company

question 26

Multiple Choice

What is the implicit effective annual interest rate on a company transaction to raise $100 000 finance by drawing a commercial bill with face value of $105 000 payable in 180 days?

• A)9.746%
• B)4.76%
• C)9.65%
• D)None of the given options.

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