Magna Corp has been offered terms of 2/15, n/30 from one of its suppliers. Magna can borrow from its bank at 30% per annum. Calculate the effective rate of not taking the discount and determine whether the company should borrow from its bank and take the trade credit discount

Magna Corp has been offered terms of 2/15, n/30 from one of it's suppliers. Magna can borrow from it's bank at 30% per annum. Calculate the effective rate of not taking the discount and determine whether the company should borrow from It's bank and take the trade credit discount? (3 marks) 1 T: B I EE