Question: Question Help /Test Early payment discount versus loan Joanne Germano works in an accounts payable department of a major retailer She has attempted to convince

Question Help /Test Early payment discount versus loan Joanne Germano works

Question Help /Test Early payment discount versus loan Joanne Germano works in an accounts payable department of a major retailer She has attempted to convince her boss to take the discount on the 2/15 net 60 credit terms most suppliers offer, but her boss argues that giving up the 2% discount is less costly than a short-term loan at 9% Prove to whoever is wrong that the other is correct. (Note: Assume a 365-day year) The cost of giving up the cash discount is %. (Round to two decimal places.) Enter your answer in the answer box and then click Check

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