E6-5 (Algo) Evaluating the Annual Interest Rate Implicit in a Sales Discount with Discussion of Management Choice of Financing Strategy LO6-1 Clark's Landscaping bills customers subject to terms 3/15, n/60. Required: 1. Compute the annual interest rate implicit in the sales discount. 2. If his bank charges 17 percent interest, should the customer borrow from the bank so that he can take advantage of the discount? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the annual interest rate implicit in the sales discount. (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) Annual interest rate % E6-5 (Algo) Evaluating the Annual Interest Rate Implicit in a Sales Discount with Discussion of Management Choice of Financing Strategy LO6-1 Clark's Landscaping bills customers subject to terms 3/15, n/60. Required: 1. Compute the annual interest rate implicit in the sales discount. 2. If his bank charges 17 percent interest, should the customer borrow from the bank so that he can take advantage of the discount? Complete this question by entering your answers in the tabs below. Required 1 Required 2 If his bank charges 15 percent interest, should the customer borrow from the bank so that he can take advantage of the discount? Should the customer borrow from the bank? Yes Required 2 > Yes No