Milo is purchsing a new tefrigerator for 52300 using an in store offer, The store is offering a 60 days same as cash loan this means that at the end of the 60 days if Milo has pald off the cost of the refrigerator, he owes no added intereit charge, but if he does not pay off the entire cost of the refogerator, he owei simple interest on 1le original purchase amount, calculated over the entie 60 days. if the innoal interest rate is 22.93%