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Suppose one of the suppliers to Seattle Health System offers terns of 3/20, net 60. a. When does the system have to pay its bills from this supplier? b. What is the approximate percentage cost of the costly trade credit offered by this supplier? (Assume 360 days per year.) a. Seattle must pay the bills in 20 days if it wants to take advantage of the discount of 3 percent. If it wants to take the costly trade credit (forego the discount), it must pay the bills in days. Approximate % cost = Discount percent/100 - Discount percent times 360/Days credit received - Discount period