Illinois Heart Hospital purchased and received an order of $27,950.50 worth of Personal Protective Equiqment (PPE) one (1) week before Valentine's Day from Good Samaritan Medical Equipment Supply, Inc. The invoice stated the terms of payment as 3.5/7 net 21. Calculate the approximate interest rate for this purchase of desperately needed PPE. 

Answer rating: 100% (QA)

To calculate the approximate interest rate for the purchase of PPE from Good Samaritan Medical Equip... View the full answer