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1.The terms of the sale were 2/18, net 77. What is the effective annual rate of interest? 2. The terms of the sale were 4/15,

1.The terms of the sale were 2/18, net 77. What is the effective annual rate of interest?

2. The terms of the sale were 4/15, net 55. What is the nominal rate? That is, compute the APR.

3. Indicate the effect of the following on the operating cycle: Company takes longer to pay its suppliers:

- No change

- No answer text provided

- Decrease

- Increase

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