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You are buying $10,000 of merchandise. You receive the following discount terms: 3/10 Net 30. What is the equivalent APR of that discount? If a

You are buying $10,000 of merchandise. You receive the following discount terms: 3/10 Net 30. What is the equivalent APR of that discount? If a bank will finance the purchase at 24% interest, should you borrow the money to take the discount? Why or why not?

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