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Agata [3.3K]
1 year ago
6

McCallister's just purchased $16,500 worth of inventory. The terms of the sale were 1/15, net 45. What is the implicit interest?

Business
1 answer:
Greeley [361]1 year ago
3 0

The implicit interest based on the information given is $165.

<h3>How to calculate the interest?</h3>

It should be noted that the implicit interest is calculated as:

= Inventory worth × Discount rate

= $16500 × 1%

= $165

Therefore, the implicit interest based on the information given is $165.

Learn more about interest on:

brainly.com/question/24080432

#SPJ1

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