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Concord Company purchased merchandise with an invoice price of $2300 and credit terms of 2/10,n/30. Assuming a 360 day year, what is the implied annual

Concord Company purchased merchandise with an invoice price of $2300 and credit terms of 2/10,n/30. Assuming a 360 day year, what is the implied annual interest rate inherent in the credit terms? 38%48%36%72%

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