A merchant receives an invoice for $4000 with terms 4/30,n/100.What is the highest rate of simple interest at which he can afford to borrow in order to take advantage of the discount?
A)14.60%
B)15.21%
C)20.86%
D)21.73%

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The Answer of A merchant receives an invoice for $4000 with terms 4/30,n/100.What is the highest rate of simple interest at which he can afford to borrow in order to take advantage of the discount?
A)14.60%
B)15.21%
C)20.86%
D)21.73%

A Merchant Receives an Invoice for $4000 with Terms 4/30,n/100