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Rapid Repair Inc. purchased $10,200 worth of inventory. The terms of sale were 3/10, net 30. The implicit interest is ________ and the effective annual

Rapid Repair Inc. purchased $10,200 worth of inventory. The terms of sale were 3/10, net 30. The implicit interest is ________ and the effective annual rate is ________ percent.

$306; 74.35

$400; 44.59

$300; 14.95

$306; 25.65

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