On August 1, 2010, Colombo, Co’s treasurer signed a note promising to pay $240,000 on December 31, 2010. The proceeds of the note were $232,000. Calculate the discount rate used by the lender?
On August 1, 2010, Colombo, Co’s treasurer signed a note promising to pay $240,000 on December 31, 2010. The proceeds of the note were $232,000.
Calculate the discount rate used by the lender?
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