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3. Part 1 Gamma Enterprises needs $600,000 to take a cash discount of 1.5/10, net 60 being offered by their main supplier. In order to
3. Part 1 Gamma Enterprises needs $600,000 to take a cash discount of 1.5/10, net 60 being offered by their main supplier. In order to take advantage of the discount Gamma will need to finance the payment with their bank for 50 days at an interest cost of $12,100. grimes a. Calculate the annual interest rate being offer to Gamma by their bank. 2pts b. Calculate how much it would cost Gamma not to take the discount. 2pts 25 c. Should Gamma borrow to take the discount? Why or why not? 3pts Part 2 Consider that Gamma is offered a different loan from another lender where there will be a 10% compensating balance required and the interest cost will be $8,300 for the 50 day loan. d. Calculate the amount of money to be borrowed. 2pts e. Calculate the annual rate of interest. 2pts f. Should Gamma borrow to take the discount? Why or why not? 3pts shrut
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