Question Help Simple Simon's Bakery purchases supplies on terms of 12/10, nel 26. If Simple Simon's chooses to take the discount offered, must obtain a bank loan to meet its short-term ning needs. A local bank has cred Simple Simon's owner an interest rate of 11.8% on borrowed funds. Should Simple Simon's enter the loan agreement with the bank and begin taking the discount? (Use 365 days for a year) Simple Simon's can earn an effective rate of (Round to one decimal place)