Calculate the APR and rEAR of non-free trade credit associated with credit terms of 2/20, net 60, and 1.5/15, net 45, assuming that customers who do not take

the discount

a. pay on the last due date. Assume there are 360 days in a year. Do not round intermediate calculations. Round your answers to two decimal places.

Credit terms of

2/20, net 60

1.5/15, net 45

APR

%

rEAR

%

%

b. delay payment until 10 days after the last due date. Assume there are 360 days in a year. Do not round intermediate calculations. Round your answers to

two decimal places.

Credit terms of

2/20,net 60

1.5/15,net 45