Finance 350 Homework Chapters 19 and 20 Do all calculations using 9 decimal places, retain the 9 decimal places throughout the calculations, then when you report answers round to 2 decimal places. Examples: If the answer is in years: i.e., 9.5576 report 9.56 years. If the answer is in dollars, i.e., $56.987.555 report to the nearest cent $56,987.56. If the answer is in percentage terms i.e., 10.4478% report 10.45% If the answer is in times i.e., 4.783 report 4.78 times. You need to be very precise with rounding and reporting. For instance, if the answer is 9 times you must report 9.00, the homework grading program will count 9 as incorrect, it would count 9.0 as incorrect, everything must be carried or rounded to two decimal places. Another example if the answer is $48,000, you must report 48,000.00 5. Cash Discounts You place an order for 1.900 units of inventory at a unit price of $50.00. The supplier offers terms of 5/20, net 45. a. How long do you have to pay before the account is overdue? days Points: 1 b. If you take the full period, how much should you remit? $ Points: 2 c. What is the discount being offered? % Points: 1 d. How quickly must you pay to get the discount? days Points: 1 e. If you do take the discount, How much should you remit? $ Points: 2 f. If you don't take the discount, how much interest are you paying implicitly? Points: 2 $