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please help me Chris Angle can borrow from its bank at 18 percent to take a cash discount. The terms of the cash discount are
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Chris Angle can borrow from its bank at 18 percent to take a cash discount. The terms of the cash discount are 25/19 net 75 a. Compute the cost of not taking the cash discount. (Use 365 days in a year, Round intermediate calculations to 4 decimal places, Round the final answer to 2 decimal places.) Cost of not taking a cash discount b. Shouid Chris borrow the funds? Yes No Your bank will lend you $7,200 for 45 days at a cost of $96 interest. a. What is your annual rate of interest? (Use 365 days in a year. Do not round intermediate calculations. Found the final answer to 2 decimal places.) Annual rate of interest b. What is your effective annual rate? (Use 365 days in a year, Do not round intermediate calculations, Round the final answer to 2 decimal ploces.) Effective anenal tale Dr. Painkiller is going to borrow $6,500 for one year at 8 percent interest. What is the annual rate of interest if the loan is discounted? (Use 365 days in a year. Do not round intermediate calculation. Round the final answer to 2 decimal places.) Annual rate of interest % Step by Step Solution
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