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Please show detailed solutions without the use of excel You are evaluating a credit term 2/10, net 30 . Find the annual percentage rate (APR)

Please show detailed solutions without the use of excel

You are evaluating a credit term 2/10, net 30 . Find the annual percentage rate (APR) and effective annual rate (EAR) of the using trade credit with this credit term. [5 marks] Hints: You may find similar example in the textbook Ch22

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