Jessamyn is due an $824.15 tax refund, which she expects to receive on April 30. On March 17 her tax

Jessamyn is due an $824.15 tax refund, which she expects to receive on April 30. On March 17 her tax preparer offered to buy this refund by giving her $800 on the spot. What is the simple discount rate for this offer? What is the simple interest rate? Find the effective interest rate equivalent to 12.7% compounded daily (bankers’ rule).

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Jessamyn is due an $824.15 tax refund, which she expects to receive on April 30. On March 17 her tax
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