18 ) You have recently been hired by a new company that offers customers the option to pay up to 45 days after purchasing the companys goods. Your company borrows funds from the bank at a nominal rate of 12%. If the customer waits to pay until the 45^th day, by how much should you mark up the price of your companys goods to offset the interest cost? (Assume a 365 day year)

1.75%

1.49%

1.2%

2.42%

1.82%

(Please use an finance equation and/ or formula rather than using a sheet chart or graph)