To complete the sale of a house, the you accept a 320-day note for $8,000 at 6% simple interest. (Both interest and principal are repaid at the end of the 320 days.) Wishing to use the money sooner for the purchase of another house, the you sell the note to a third party for $8,153 after 90 days. What annual simple interest rate will the third party receive for the investment? Express your answer as a percentage. %. Round to the nearest thousandths of a percent (3 decimal places).
Due today