Little Store buys inventory using trade credit. The terms are stated as 3/10, n30, but Little Store rides the credit and generally pays on the 45th day. Occasionally, payment is made as late as the 55th day. What is the approximate cost of the credit (using simple interest) in each case? What is the compound cost of credit in each case? Assume there are 365 days in a year. Round your answers to one decimal place. a. if paid on time Approximate interest rate: Compound interest rate: b. if paid on the 45th day Approximate interest rate: Compound interest rate: c. if paid on the 55th day Approximate interest rate: Compound interest rate: % % % % % %