Bill Norman comes to you for advice. He has just purchased a large amount of inventory with the terms $2/10,$ n$/30.$ The amount of the invoice is $$310,000.$ He is currently short of cash but has decent credit. He can borrow the money needed to settle the account payable at an annual interest rate of $7$ percent. Bill is sure he will have the necessary cash by the due date of the invoice but not by the last day of the discount period.