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You have to pay a $35,000 invoice with stated terms of 1/10, net 30. a. What do the terms 1/10, net 30 mean? b. What

You have to pay a $35,000 invoice with stated terms of 1/10, net 30.

a. What do the terms 1/10, net 30 mean?

b. What options are available associated with paying this invoice on a timely basis?

c. What effective interest rate are you paying if you elect to pay $35,000 on the thirteenth day of the invoice date?

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