13-9

Credit terms. Find the effective annual rate of the following credit terms: a. 2.4% discount if paid within 6 days or net within 30 days b. 1.1% discount if paid within 25 days or net within 60 days c. 0.1% discount if paid within 14 days or net within 45 days d. 0.7% discount if paid within 21 days or net within 30 days . a. What is the effective annual rate of a 2.4% discount if paid within 6 days or net within 30 days? % (Round to two decimal places) b. What is the effective annual rate of a 1.1% discount if paid within 25 days or net within 60 days? % (Round to two decimal places.) c. What is the effective annual rate of a 0.1% discount if paid within 14 days or net within 45 days? 1% (Round to two decimal places.) d. What is the effective annual rate of a 0.7% discount if paid within 21 days or net within 30 days? % (Round to two decimal places)