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Calculate effective annual interest rate of fourteen percent

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Problem 1: A supplier requires all accounts to be settled within 40 days, but is offering your business a discount if you settle your accounts within 7 days of purchase. , you calculate an effective annual interest rate of 14.3%. Explain how you should decide whether to accept the discount and pay within 7 days, or to delay payment as long as possible.

Reference no: EM132963024

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