A bill of 1000 was discounted, with compound discount, 4 months before the due date At what - Economics - National Income Accounting

Question

A bill of ? 1000 was discounted, with compound discount, 4 months
before the due date At what annual rate was it discounted if the
amount collected was ? 977 70? Please help now

Decoder_9 · Accepted Answer

A bill of ? 1000 was discounted, with compound discount, 4 months before the due date. At what annual rate was it discounted if the amount collected was ? 977.70? Please help now