Question: solve and answer correct 20. On a $100 purchase, the buyer can pay $98 cash or pay an extra $2 to delay the payment for

solve and answer correct solve and answer correct 20. On a $100 purchase, the buyer can

20. On a $100 purchase, the buyer can pay $98 cash or pay an extra $2 to delay the payment for 30 days. What is the effective annual rate of not taking the cash discount? (3 pts)

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