Sydney limited draws a promissory note with a face value of $50 000 and a maturity of 181 days. The note can be discounted for $48 090. What is the annual interest rate earned by the holder of the...

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Sydney limited draws a promissory note with a face value of $50 000 and a maturity of 181<br>days. The note can be discounted for $48 090. What is the annual interest rate earned by the<br>holder of the note (assuming that the holder of the note will keep it till maturity?)<br>A) 4%<br>B) 8%<br>C) 2%<br>D) 6%<br>

Extracted text: Sydney limited draws a promissory note with a face value of $50 000 and a maturity of 181 days. The note can be discounted for $48 090. What is the annual interest rate earned by the holder of the note (assuming that the holder of the note will keep it till maturity?) A) 4% B) 8% C) 2% D) 6%

Jun 10, 2022

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Sydney limited draws a promissory note with a face value of $50 000 and a maturity of 181 days. The note can be discounted for $48 090. What is the annual interest rate earned by the holder of the...

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