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Nonamiya [84]
3 years ago
7

Clark’s Landscaping bills customers subject to terms 3/20, n/60.

Business
1 answer:
Law Incorporation [45]3 years ago
4 0

Answer: 28.20%

Explanation:

To compute the annual interest rate implicit in the sales discount for thus:

Firstly, we have to calculate the difference that exist between the payment date and the due date and then divide by 365 days which has been given in the question. This will be:

= 60 days - 20 days = 40 days

= 365days/40days

= 9.125%

Secondly, we will then subtract the percentage discount from 100% and then divide the result. Since discount percentage is 3%, this will be:

= 3%/(100% - 3%)

= 3%/97%

= 0.03/0.97

= 0.0309278351

= 3.09%

Lastly, we then multiply the result of the calculations above together in order to get the annualized interest rate. This will be:

= 9.125% × 3.09%

= 28.19625%

= 28.20%

Annualized interest rate. =28.20%

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2 years ago
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3 years ago
identify the characteristics of a successful workplace culture. select all that apply. employees want to do a good job. employee
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1 year ago
A dollar available today is always worth more than a dollar not available until a future period.
Lostsunrise [7]

Answer:

The statement is: True.

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8 0
3 years ago
Seller Jones signed an exclusive right to sell listing on her home with Muller Realty for $155,000 at a commission rate of 5% to
kramer

Answer:

$3,875

Explanation:

Data given in the question

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Commission rate = 5%

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