If Jonas Movers Ltd

Multiple Choice

If Jonas Movers Ltd. chooses to forego the 3% discount offered by its corrugated box supplier if the invoice is paid with 15 days in favour of paying in 50 days, using the approximation formula, what will the oversight cost Jonas in terms of an annualized rate?

A) 18.3%
B) 21.9%
C) 31.3%
D) 36.5%
E) 73.0%