What effective annual interest rate does the firm earn

Reference no: EM13289499

A firm offers terms of 2/5, net 30. What effective annual interest rate does the firm earn when a customer does not take the discount?

A-28.97 percent
B-31.08 percent
C-34.31 percent
D-24.42 percent
E-21.69 percent

Reference no: EM13289499

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