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Company X sells on a 322, net 65 basis. Customer Y buys goods with an invoice of $1110. a. How much can Y deduct from

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Company X sells on a 322, net 65 basis. Customer Y buys goods with an invoice of $1110. a. How much can Y deduct from the bill if it pays on day 22? (Round your answer to 1 decimal place.) Discount 5 b. How many extra days of credit can Y receive if it passes up the cash discount? (Round your answer to the nearest whole.) Extra days of credit c. What is the effective annual rate of interest if pays on the due date rather than day 222 (Round your answer to 2 decimal places.) Effective annual rate of interest

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