I.C.U Optical receives an invoice for $2500 with terms 2/10, n/50. (a) If the company is to
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Question:
I.C.U Optical receives an invoice for $2500 with terms 2/10, n/50.
(a) If the company is to take advantage of the discount, what is the highest simple interest rate at which it can afford to borrow money?
(b) If the money can be borrowed at 10% simple interest, how much does I.C.U. Optical actually save by using cash discount?
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