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Annual interest rate to take advantage of the cash

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Reference no: EM131758127

A supplier is offering your firm a cash discount of 2%if purchases are paid for within 10 days; otherwise the bill is due at the end of 60 days. Would you recommend borrowing from a bank at an 18% annual interest rate to take advantage of the cash discount offer? Explain your answer.

Reference no: EM131758127

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