for services rendered an attorney accepts a 120 day note for usd4 100
For services rendered, an attorney accepts a 120-day note for $4,100 at 7% simple interest from a client. (Both interest and principal are repaid at the end of 120 days.) Wishing to use her money sooner, the attorney sells the note to a third party for $4,140 after 30 days. What annual interest rate will the third party receive for the investment?
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