[Answered] A vendor offers terms of 4/10, n/30. What is the ANNUAL interest rate the vendor is charging a buyer ...

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Author Question: A vendor offers terms of 4/10, n/30. What is the ANNUAL interest rate the vendor is charging a buyer ... (Read 172 times)

michelleunicorn

Hero Member
Posts: 565

on: Jul 5, 2018

A vendor offers terms of 4/10, n/30. What is the ANNUAL interest rate the vendor is charging a buyer who does not pay within 10 days? (Assume there are 360 days in the year.

A) 4
B) 72
C) 54
D) 144

Question 2

The bank on which a check is drawn is known as the ___________________ _.
Fill in the blank(s) with correct word

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thall411

Sr. Member
Posts: 332

Reply #1 on: Jul 5, 2018

Answer to Question 1

B

Answer to Question 2

drawee

michelleunicorn

Hero Member
Posts: 565

Reply #2 on: Jul 5, 2018

Thank you

thall411

Sr. Member
Posts: 332

Reply #3 on: Jul 5, 2018

Happy to help you

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Author Question: A vendor offers terms of 4/10, n/30. What is the ANNUAL interest rate the vendor is charging a buyer ... (Read 172 times)

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