Lilly Pution, Inc., is offering 1.5/10, net 36 terms on an invoice for $16,560. What is the Annual Percentage Rate on the terms?

1.53%

26.31%

9.52%

21.38%

18.00%

Elly Vader Cable Co. will start Quarter 1 with $2,150 in receivables and expected credit sales of $5,000. Credit sales are expected to grow by 10% for each of the next three quarters. If the firm offers 45 day credit terms to its customers (assuming 90 days in a quarter), what will its total collections be in the fourth quarter and what will the ending receivables be in the same quarter?

$ 4,604.00; $ 2,305.25

$ 3.025.00; $ 1,512.50

$ 5,880.61; $ 2,996.00

$ 6,352.50; $ 3,327.50

$ 2,950.80; $ 1,475.40