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PLEASE provide calculations on calculator, not excel thank you! Retur 7 Problem 18-14 Terms of Sale A firm offers terms of 1.2/10, net 30. 14.28
PLEASE provide calculations on calculator, not excel thank you!
Retur 7 Problem 18-14 Terms of Sale A firm offers terms of 1.2/10, net 30. 14.28 points a. What effective annual interest rate does the firm earn when a customer does not take the discount? (Use 365 days a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Effective annual interest rate 22.17 X % b. What effective annual interest rate does the firm earn if the terms are changed to 2.2/10, net 30, and the customer does not take the discount? (Use 365 days a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Effective annual interest rate % c. What effective annual interest rate does the firm earn if the terms are changed to 1.2/10, net 45, and the customer does not take the discount? (Use 365 days a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Effective annual interest rate % d. What effective annual interest rate does the firm earn if the terms are changed to 1.2/15, net 30, and the customer does not take the discount? (Use 365 days a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Effective annual interest rate %Step by Step Solution
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