Question: 1) What is the net savings from borrowing at a 6 percent interest rate in order to take the discount on a $ 16,000 purchase,

1) What is the net savings from borrowing at a 6 percent interest rate in order to take the discount on a $ 16,000 purchase, terms 2/10, n/30?
2) What is the interest rate earned on taking a discount with terms 5/10, n/30?

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