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Compute the annual interest rate implicit in sales discount

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Reference no: EM132488046

Evaluating the Annual Interest Rate Implicit in a Sales Discount with Discussion of Management Choice of Financing Strategy

Clark's Landscaping bills customers subject to terms 3/25, n/60.

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Question 1. Compute the annual interest rate implicit in the sales discount. (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).)

Reference no: EM132488046

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