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6) Sunrise has received an invoice for medical supplies for $5,000 with terms of a 3% discount if paid within 10 days. The invoice is

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6) Sunrise has received an invoice for medical supplies for $5,000 with terms of a 3% discount if paid within 10 days. The invoice is due on the thirtieth day. What is the annual effective cost of interest on this invoice? 27% 65 , (CO 6) Sunrise has negotiated a $1,500,000 line of credit with the local bank. The terms of the line of credit call for an interest rate of 2% above prime on any borrowing plus 0.6% on any unused balance. If the line is not used during the year, what cost will Sunrise incur? 36% 5.4% 54%

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