3. Assume that the buyer borrowed enough cash to pay the balance on the last day of the discount period at an annual interest rate of 8% and paid it back on the last day of the credit period. Compute how much the buyer saved by following this strategy. (Use 365 days a year. Do not round intermediate calculations.) Savings from discount taken Interest Expense on Funds Borrowed Amount borrowed Number of days of interest Interest expense Buyer's net savings 3. Assume that the buyer borrowed enough cash to pay the balance on the last day of the discount period at an annual interest rate of 8% and paid it back on the last day of the credit period. Compute how much the buyer saved by following this strategy. (Use 365 days a year. Do not round intermediate calculations.) Savings from discount taken Interest Expense on Funds Borrowed Amount borrowed Number of days of interest Interest expense Buyer's net savings