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Bowman Corporation has just received an invoice. The terms are 2/10, net 30. The total amount of the invoice is $3,000. What is the interest
Bowman Corporation has just received an invoice. The terms are 2/10, net 30. The total amount of the invoice is $3,000. What is the interest rate for the 20 day period?
Multiple Choice
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1.5698%
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1.8848%
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1.8905%
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2.0408%
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2.4808%
Bowman Corporation has just received an invoice. The terms are 2/10, net 30. The total amount of the invoice is $3,000. What is the effective annual rate for this transaction?
Multiple Choice
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2.0408%
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4.0816%
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18.25%
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34.55%
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44.58%
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