Compute the cost of the trade credit terms in problem 15- 3 using the compounding formula, or

Question:

Compute the cost of the trade credit terms in problem 15- 3 using the formula, or effective annual rate. Compounding
Compounding is the process in which an asset's earnings, from either capital gains or interest, are reinvested to generate additional earnings over time. This growth, calculated using exponential functions, occurs because the investment will...