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Should Simple Simon enter the loan agreement

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Question - Simple? Simon's Bakery purchases supplies on terms of 1.9/10, net 29. If Simple? Simon's chooses to take the discount offered, it must obtain a bank loan to meet its short-term financing needs. A local bank has quoted Simple Simon's owner an interest rate of 10.5% on borrowed funds. Should Simple Simon's enter the loan agreement with the bank and begin taking the discount?

Reference no: EM133054010

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