Compute the cost of the following trade credit terms using the compounding formula, or effective annual rate.

Note:

Assume a 30-day month and 360-day year.

a.

4/5,

net 60b.

3/10,

net 45c.

4/10,

net 60d.

2/10,

net 60

a. When payment is made on the net due date, the APR of the credit terms of

4/5,

net

60

is

enter your response here%.

(Round to two decimal places.)