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Assume your company was invoiced $50,000 on December 15, 2016 by ABC Lumber. You submit your payment on January 1st, 2017. Given the following trade
Assume your company was invoiced $50,000 on December 15, 2016 by ABC Lumber. You submit your payment on January 1st, 2017. Given the following trade credit terms, indicate the effective interest rate of the discount: (1.9/15 net 30) Express your answer in decimal format with at least four digits after the decimal. Example, if your answer is 8.75% then express your answer as 0.0875
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