Answer:
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Answer:
the answer would be 4 because you multiply
Answer:
56.44%
Step-by-step explanation:
From the question, we have the following values
% Discount = 3%
Full allowed payment days = 30 days
Discount days = 10 days
1 year = 365 days
The formula for Effective Annual rate or Annual rate in effect =
Discount %/(1-Discount %) x (365 days/(Full allowed payment days - Discount days))
= 3%/(1 - 3%) × (365 days/30 days - 10 days)
= 0.03/(1 - 0.03) × (365/20)
= 0.03/0.97 × (365/20)
= 0.5644329897
Converting to percentage
0.5644329897 × 100
= 56.44329897%
Approximately = 56.44%
Therefore, the annual rate Heidi, in effect, is paying the supplier if she fails to pay the invoice at the end of the discount period is 56.44%
2/3 + 3/4 = 8/12 + 9/12 = 17/12 = 1 5/12
1 + 5/12 = 12/12 + 5/12 = 17/12 = 1 5/12
2/3 + 3/4 = 1 + 5/12
