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Vaughn Manufacturing purchased merchandise with an invoice price of $3000 and credit terms of 3/11, n/30. Assuming a 360-day year, what is the implied annual

Vaughn Manufacturing purchased merchandise with an invoice price of $3000 and credit terms of 3/11, n/30. Assuming a 360-day year, what is the implied annual interest rate inherent in the credit terms? 57% O 7% 38% O 3%

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