Simple Simon$\text{'}$s

Bakery purchases supplies on terms of $1\mathrm{.}6$ divided by $10$ comma net $30$

$.$

If Simple Simon

$\text{'}$s

chooses to take the discount$$ offered, it must obtain a bank loan to meet its$$ short$-$term financing needs. A local bank has quoted Simple Simon's owner an interest rate of $10\mathrm{.}2\%$on borrowed funds. Should Simple Simon's

enter the loan agreement with the bank and begin taking the$$ discount? $($Hint$$:

Use $365$ days for a$$ year.$)$