As the struggling owner of a new restaurant, you suffer from a habitual shortage of cash.
Yesterday the following invoices arrived:

1. Write out the exact meaning of each of the terms.
2. You can borrow cash from the local bank on a 10-, 20-, or 30-day note bearing an annual interest rate of 14%. Should you borrow to take advantage of the cash discounts offered by the last two vendors? Why? Show computations. For interest rate computations, assume a 360-day year.

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Vender Hong Fruit & Vegetables Rose Exterminators lowa Meat Supply John's Fisheries Garcia Equipment Face AmountTerms $ 700 90 850 1,000 2,000 n/30 EOM 15, EOM 1/10, n/30 2/10, n/30