Business, 16.07.2021 03:20 krystalhurst97
On September 1, 2021, Hiker Shoes issued a $100,000, 8-month, noninterest-bearing note. The loan was made by Second Commercial Bank where the stated discount rate is 9% Hiker's effective interest rate on this loan (rounded) is: (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
A. 9.0%.
B. 9.5%
C. 9.6%.
D. 9.7%
Answers: 3
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On September 1, 2021, Hiker Shoes issued a $100,000, 8-month, noninterest-bearing note. The loan was...
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