On August 5, Lacey Jewelry Store purchased $5,000 of jewelry from their supplier with terms of 2/10, n/45. Lacey did not have sufficient cash on August 15 to take advantage of the cash discount, but is able to borrow money from the bank at 12.6% ordinary interest. How much can be saved by borrowing the funds for 30 days in order to take advantage of the cash discount?

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The Answer of On August 5, Lacey Jewelry Store purchased $5,000 of jewelry from their supplier with terms of 2/10, n/45. Lacey did not have sufficient cash on August 15 to take advantage of the cash discount, but is able to borrow money from the bank at 12.6% ordinary interest. How much can be saved by borrowing the funds for 30 days in order to take advantage of the cash discount?

On August 5, Lacey Jewelry Store Purchased $5,000 of Jewelry