On April 14,McCallister's purchased $7,800 worth of inventory.The terms of sale were 2/10,net 30.The implicit interest is _____ and the effective annual rate is _____ percent.
A)$200; 14.95
B)$156; 44.59
C)$400; 14.95
D)$400; 27.38
E)$400; 44.59

Question

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The Answer of On April 14,McCallister's purchased $7,800 worth of inventory.The terms of sale were 2/10,net 30.The implicit interest is _____ and the effective annual rate is _____ percent.
A)$200; 14.95
B)$156; 44.59
C)$400; 14.95
D)$400; 27.38
E)$400; 44.59

On April 14,McCallister's Purchased $7,800 Worth of Inventory