Jack Sparrow is a new accountant with Pear Company. Pear purchased merchandise on account for $9,000. The credit terms are 2/10, n/30. Sparrow has talked with the company's banker and learned that Pear would earn 8% (simple interest) on any money invested in the company's savings account. (a) Should Sparrow pay the invoice within the discount period or should he keep the $9,000 in the savings account and pay at the end of the credit period? Support your recommendation with a calculation showing which action would be best. (b) If Sparrow forgoes the discount, it may be viewed as paying an interest rate of 2% for the use of $9,000 for 20 days. Calculate the annual rate of interest that this is equivalent to. SHOW ALL CALCULATIONS