Your company has just bought a new industrial machine for $75 000 from a supplier that offered you credit terms of 2/10, Net 30

Finance Apr 26, 2022

Your company has just bought a new industrial machine for $75 000 from a supplier that offered you credit terms of 2/10, Net 30. a. If you choose to pay on day 30, what is the effective annual rate of the trade credit? Answer in percentage form with two decimals (i.e. 34.55%, not 0.3455). % b. If you instead pay on day 50, what is the effective annual rate of the trade credit? Answer in percentage form with two decimals (i.e. 34.55%, not 0.3455). %