The reliable price is R=5.04%
Consider the provided indevelopment.
You are watching: The effective rate of a $30,000 non-interest-bearing simple discount 5%, 60-day note is:
We should uncover the efficient price of a $30000.
Interemainder Rate is 5% or 0.05.
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Sometimes bankers calculate interest on a 360-day year for comfort.
Thus, I have the right to be calculated as:
I = Principal x Interest Rate x Frequency of a year
Principal = 30000, Interest Rate = 0.05 and also Frequency of a year = 60÷360
Thus, cash in hand at the beginning of 60 days is:
p = 30,000 − 250 = 29750
The reliable rate have the right to be calculated as:
Hence, the efficient rate is R=5.04%
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The suppose finish time was 185.52 via a conventional deviation of 0.327 minute. the winning car driven by chris finiburned in 185.13. the previous year race had actually a intend end up time of 110.3 through a standard deviation of 0.106. the winning auto that year moved by karen finished in 110.13 minutes. find their particular z-scores. chris - z-score karen “- z-score