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On April 14, McCallister's purchased $7,800 worth of inventory. The terms of sale were 2/10, net 30. The implicit interest is _____ and the effective

On April 14, McCallister's purchased $7,800 worth of inventory. The terms of sale were 2/10, net 30. The implicit interest is _____ and the effective annual rate is _____ percent.

$200; 14.95

$156; 44.59

$400; 44.59

$400; 14.95

$400; 27.38

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