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Should simple? simon enter the loan agreement with the bank

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Problem 1: Simple? Simon's Bakery purchases supplies on terms of 1.3/10, net 25. 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 10.4% on borrowed funds. Should Simple? Simon's enter the loan agreement with the bank and begin taking the? discount? (Hint: Use 365 days for a? year.)

 

Reference no: EM132949156

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