Question
A discount of 45 was allowed on a purchase leaving a balance of $110. The discount rate was most nearly: 26% 28% 30% 32% 34%
A discount of 45 was allowed on a purchase leaving a balance of $110. The discount rate was most nearly:
- 26%
- 28%
- 30%
- 32%
- 34%
Explanation on how you came to the answer's conclusion would be appreciated. Thank you!
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Managerial Accounting Information For Decisions
Authors: Thomas L. Albright , Robert W. Ingram, John S. Hill
4th Edition
0324222432, 978-0324222432
