What is the effective annual rate of interest for the


On July 15th, you purchased $10,000 worth of goods. The terms of the sale were 2/5, net 31. What is the effective annual rate of interest for the credit period for this sale?

Solution Preview :

Prepared by a verified Expert
Finance Basics: What is the effective annual rate of interest for the
Reference No:- TGS02268628

Now Priced at $10 (50% Discount)

Recommended (96%)

Rated (4.8/5)