Bowman Corporation has just received an invoice. The terms are 2/10, net 30. The total amount of
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Question:
Bowman Corporation has just received an invoice. The terms are 2/10, net 30. The total amount of the invoice is $3,000. What is the interest rate for the 20 day period?
- 1.5698%
- 1.8848%
- 1.8905%
- 2.0408%
- 2.4808%
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-1259024962
6th Canadian edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim
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