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Answer the following questions assuming a 360-day year. Required: Calculate the approximate annual rate of return on investment of the following cash discount terms: (Do

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Answer the following questions assuming a 360-day year. Required: Calculate the approximate annual rate of return on investment of the following cash discount terms: (Do not round intermediate calculations. Enter your answer as a percentage rounded to 1 decimal place (i.e., 32. 1)). Which of the above terms is not likely to be a significant incentive to the customer to pay promptly? 1/10, net 90 5/10, net 60 4/15, net 30

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