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Your current sales consist of 2 5 units per month at a price of $ 2 0 0 a unit. You are weighing the pros

Your current sales consist of 25 units per month at a price of $200 a unit. You are weighing the pros and cons of switching to a net 30 credit policy from your current cash only policy. If you decide to switch your credit policy you also plan to increase the sales price to $215 a unit. The monthly interest rate is 2 percent. What is the break-even default rate of the proposed switch?Question
options:
4.48 percent
4.59 percent
4.65 percent
4.97 percent
5.12 percent

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