Calculate the effective interest rate implied by the following terms of sale. (Use a 365-day year.) 2/10
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Calculate the effective interest rate implied by the following terms of sale. (Use a 365-day year.)
2/10 ............net 30
1/5 ...........net 15
.5/10 ...........net 30
2.5/10 ............net 25
1/5 ..............net 20
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