Company X sells on a 1/15, net 60, basis. Company Y buys goods with an invoice of $3,500.

How much can company Y deduct from the bill if it pays on day 15?

Note: Do not round intermediate calculations.

How many extra days of credit can company Y receive if it passes up the cash discount?

What is the effective annual rate of interest if Y pays on the due date rather than day 15?

Note: Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.