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Atlantic Construction made several purchases from vendors who offered various terms of payment. How much can Atlantic save on the invoice below if it borrows

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Atlantic Construction made several purchases from vendors who offered various terms of payment. How much can Atlantic save on the invoice below if it borrows the money to pay the involce early and receive the cash discount? The loan interest rate is exact simple interest (365-day year). Assume that the number of interest days is the time between the due date and the last day to take advantage of the cash discount. Round dollar amounts to the nearest cent Invoice Terms Cash Discount Interest Rate on Loan Days of Interest Interest Amount Savings $32,550 7/10, 1/50 14.25%

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