Electronics and More offers credit terms of 2/7, net 30.What is the effective annual rate on a $4,500 purchase if you forgo the discount?
A)41.83 percent
B)38.59 percent
C)44.99 percent
D)37.80 percent
E)32.58 percent

Question

Quizplus · Accepted Answer

The Answer of Electronics and More offers credit terms of 2/7, net 30.What is the effective annual rate on a $4,500 purchase if you forgo the discount?
A)41.83 percent
B)38.59 percent
C)44.99 percent
D)37.80 percent
E)32.58 percent

Electronics and More Offers Credit Terms of 2/7, Net 30