Credit terms are often stated in the following manner: 1.5/10, net 30. This means that if you pay within 10 days, you can take a 1.5 percent discount on the price, else the full amount is due in 35 days. For example, if you buy $1,000 in goods, you can pay $985 within 10 days or pay $1,000 within 35 days. What is the APR and EAR on this arrangement if you do not take advantage of the discount

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The question gives at first 1510 net 30 which means thatpayment is to be made by the 3... View the full answer