Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The terms of sale are 5 / 10 net 30. If a company forgoes the discount, but pays for a $100 order on the last
The terms of sale are 5 / 10 net 30. If a company forgoes the discount, but pays for a $100 order on the last allowable day, what is the effective interest rate it is being charged? No excel answers pls
a. 86.65%
b. 660.31%
c. 72.21%
d. 550.26%
e. 155.00%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started