In a team of two or three students, contact a variety of businesses in your area and inquire as to the types of sales discount terms they offer to credit customers and the types of purchase discount terms they are offered by their suppliers. Calculate the approximate annual rate of interest implied in several of the more common discount terms. For instance, the book states that the implied annual rate of interest on terms of \(2 / 10, n / 60\) is \(36 \%\), assuming we use a 360 day year. Present your findings in a written report to your instructor.