Q48 Simpson Conglomerates borrows $12,000 for a short-term purpose. The loan will be repaid after 120 days with Simpson paying $12,400. What is the approximate cost of credit using the APR, or annual percentage rate calculation? A) 3.33% B) 4.00% C) 10.00% D) 11.75% As a company accounts payable manager, which of the following credit terms are most likely to entice you to take the cash discount? A) 1/10 net 45 B) 2/10 net 60 C) 1/10 net 30 D) 2/10 net 90 Q49 Yeah! Answering this question is the last thing you have to do for Section 12 of BUS 170 A) True Q50 B) False