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21-04-2024
Business

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Wilson Sports received an invoice from a supplier that provided terms of 3/10, net 60. If Wilson fails to take the discount on the due date, what is Wilson's effective annual interest rate cost assuming a 365-day year and simple compounding?
a) 12.89%
b) 18.81%
c) 21.90%
d) 22.58%

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