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A firm offers terms of 2/15, net 45. What effective annual interest rate does the firm earn if the discount period is increased to 20

A firm offers terms of 2/15, net 45.

What effective annual interest rate does the firm earn if the discount period is increased to 20 days? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Effective annual interest rate

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