2 Tess Fashions has received an electricity bill of $300 due for payment in 30 days time....
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2 Tess Fashions has received an electricity bill of $300 due for payment in 30 days’ time. The electricity supplier has offered a 2% discount if the bill is paid within 7 days.
a If Tess currently has a bank overdraft incurring an interest rate of 14%, should she take or forego the cash discount b If Tess currently has excess funds earning an interest rate of 6%, should she take or forego the cash discount?
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Related Book For
Fundamentals Of Finance
ISBN: 9780994132529
4th Edition
Authors: Andrea Bennett, Jenny Parry, Carolyn Wirth
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