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Use 365 days in a year. If a company plans to borrow money at an annual rate of 16% in order to take a discount
Use 365 days in a year. If a company plans to borrow money at an annual rate of 16% in order to take a discount of 2/10, n/30 what would be the net advantage of this strategy? (Do not round intermediate calculations. Round your final percentage answer to 2 decimal places.) Multiple Choice 8.3% 21.2% 8.8% 20.5%
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