True, Is the correct answer.
Answer: Sky's effective interest rate on this loan is 8.39%.
In this question, we assume that interest is compounded annually.
Since Sky issues a non-interest bearing note, Star Finance will deduct 7 months' interest at 8% on the Face Value of the loan and pay the rest as principal to Sky.
Face value of the note $16 million
Discount Rate p.a 8%
Tenure of the note 7 months



[tex]Loan Amount received by Sky = Face Value - Discount on note[/tex]


So, Sky pays an interest of 0.746666667 on a sum of 15.25333333 for 7 months. This works out to a seven month interest of:



From this we can work out the effective interest rate for Sky as follows:



The answer is 59$. it's mental math dude just multiply 11 by 4 and then add it to 15
Answer:
Direct selling succeeds because it provides customers with a social shopping experience.
Explanation:
Direct selling: In business, the term "direct selling" is described as a process of selling different products to the specified customers directly in a "non-retail environment". However, the products that are being sold through "direct sales" are generally not found in some typical locations, that means finding a specific rep or distributor is considered as a single method of buying different services or products.