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please do provide detailed explanation for thumsup. Do only if you 100 % sure otherwise don't do QUESTION 3 Chip N. Dale Lumber Company is
please do provide detailed explanation for thumsup. Do only if you 100 % sure otherwise don't do
QUESTION 3 Chip N. Dale Lumber Company is not taking advantage of the trade discount offered by its suppliers, which stipulates a discount of 1% for payments made within 17 days of the invoice date, or payment of the full invoice amount 40 days after the invoice date. What annualized interest rate, expressed as an APR (i.c., not compounded), is Chip N. Dale implicitly paying by not taking the discount for early payment? Assume the year has 360 days. Write the answer as a percentage with 2 decimals; c.g. 23.45% (but don't write the % sign!). (Acceptable error = 0.50)Step by Step Solution
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