Lol company purchased merchandise with an invoice price
Problem
LOL company purchased merchandise with an invoice price of ¥3000 and credit terms of 2/20, n/30. Assuming a 360 day year , what is the implied annual interest rate inherent in the credit terms?
24%
32%
36%
42%
Now Priced at $15 (50% Discount)
Recommended (98%)
Rated (4.3/5)
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