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Your firm is offered credit terms of 2/15, net 25. What is the effective annual interest rate on this arrangement? Assume 365 days in each

Your firm is offered credit terms of 2/15, net 25. What is the effective annual interest rate on this arrangement? Assume 365 days in each year.

Multiple Choice

109.05%
43.80%
46.23%
48.67%
68.10%

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