In the beginning, cell phone companies offered data service to their customers' mobile phones and it was billed by the kilobyte. Currently, many customers pay a monthly fee that allows them blocks of data measured in gigabytes (millions of kilobytes) or unlimited data. In large part, this is due to technological advances in data transmission and the increase in the complexity and volume of data trafficked on the internet. Has the cost of data increased or decreased? Explain

 

Mahrouq Technologies buys $19,290,327 of materials (net of discounts) on terms of 3/30, net 60, and it currently pays within 30 days and takes discounts. Mahrouq plans to expand, and this will require additional financing. If Mahrouq decides to forego discounts and thus to obtain additional credit from its suppliers, calculate the nominal cost of that credit. Answer in % terms to 2 decimal places (no % sign).