Credit Terms, Discounts, and Annual Interest Rates As the struggling owner of a new Korean restaurant, you suffer from a habitual shortage of cash. Yesterday the following invoices arrived: Vender Cornation Produce Rose Exterminators Nebraska Meat Supply John's Fisheries Garcia Equipment Terms n/30 Face Amount $ 600 90 900 1,000 1/10, n/30 2,000 2/10, n/30 EOM 15, EOM 1. Write out the exact meaning of each of the terms. 2. You can borrow cash from the local bank on a 10-, 20-, or 30-day note bearing an annual inter- est rate of 16%. Should you borrow to take advantage of the cash discounts offered by the last two vendors? Why? Show computations. For interest rate computations, assume a 360-day year.