Assume the $11,700 Treasury bill, 6% for 10 weeks. Calculate the effective rate of interest. (Use calendar year. Round your answer to the nearest hundredth perce Effective rate of interest %

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
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Assume the $11,700 Treasury bill, 6% for 10 weeks. Calculate the effective rate of interest. (Use calendar year. Round your answer to the nearest hundredth percent.)
Effective rate of interest
%
Transcribed Image Text:Assume the $11,700 Treasury bill, 6% for 10 weeks. Calculate the effective rate of interest. (Use calendar year. Round your answer to the nearest hundredth percent.) Effective rate of interest %
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