Credit terms. Find the effective annual rate of the following credit terms:
a. 2.2% discount if paid within 8 days or net within 30 days b.1.7% discount if paid within 31 days or net within 60 days c.0.1% discount if paid within 10 days or net within 45 days d.0.8% discount if paid within 25 days or net within 30 days
a. What is the effective annual rate of a 2.2% discount if paid within 8 days or net within 30 days nothingm% ? (Round to two decimal places.)
b. What is the effective annual rate of a 1.7% discount if paid within 31 days or net within 60 days nothingm% ? (Round to two decimal places.)
c. What is the effective annual rate of a 0.1% discount if paid within 10 days or net within 45 days nothingm% ? (Round to two decimal places.)
d. What is the effective annual rate of a 0.8% discount if paid within 25 days or net within 30 days nothingm% ? (Round to two decimal places.)