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A firm offers terms of 1/10, net 35 What effective annual interest rate does the firm earn if the credit period is increased to 55

A firm offers terms of 1/10, net 35

What effective annual interest rate does the firm earn if the credit period is increased to 55 days? (Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).)
Effective annual interest rate %
Requirement 4:

What effective annual interest rate does the firm earn if the discount period is increased to 15 days?(Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).)
Effective annual interest rate %

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