Question
A firm offers terms of 3/7, net 30. a. What effective annual interest rate does the firm earn when a customer does not take the
A firm offers terms of 3/7, net 30. |
a. | What effective annual interest rate does the firm earn when a customer does not take the discount?(Use 365 days a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
Effective annual interest rate | % |
b. | What effective annual interest rate does the firm earn if the terms are changed to 4/7, net 30, and the customer does not take the discount? (Use 365 days a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
Effective annual interest rate | % |
c. | What effective annual interest rate does the firm earn if the terms are changed to 3/7, net 45, and the customer does not take the discount? (Use 365 days a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
Effective annual interest rate | % |
d. | What effective annual interest rate does the firm earn if the terms are changed to 3/12, net 30, and the customer does not take the discount? (Use 365 days a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
Effective annual interest rate | %
Only one i need is anwser "B". I cannot seem to figure it out and i have sent it to here and no one has yet to get it right. Please help, Thanks. |
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