Check my w 7 A store will give you a 2.75% discount on the cost of your purchase if you pay cash today. Otherwise, you will be billed the full price with payment due in 1 month. What is the implicit borrowing rate being paid by customers who choose to defer payment for the month? (Do not round intermediate calculations. Enter your answer as a perce rounded to 2 decimal places.) 10 points % Effective annual rate eBook Print References Next > 7 of 20