To settle a $770 invoice, Anna can pay $760 now or the full amount 45 days later.

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a. Which alternative should she choose if money can earn 9 3/4%

multiple choice

a - Pay $760 now

b - Pay full amount 45 days later

b. What rate would the money have to earn for Anna to be indifferent between the alternatives? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.) Rate ______ %

Related Book For answer-question

Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

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Posted Date: Jul 14, 2022 07:08 AM

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To settle a $770 invoice, Anna can pay $760 now or the full amount 45 days later.

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Expert Answer:

SEa In order to choose among both alternatives We need to ... View the full answer

Fundamentals Of Business Mathematics In Canada

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