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LOL company purchased merchandise with an invoice price of 3000 and credit terms of 2/20, n/30, Assuming a 360 day year , what is the

LOL company purchased merchandise with an invoice price of 3000 and credit terms of 2/20, n/30,

Assuming a 360 day year , what is the implied annual interest rate inherent in the credit terms?

24%

32%

36%

42%

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