Multiple Choice
A merchant receives an invoice for $25,000 with terms 4/15,n/60.What is the highest simple interest rate at which he can afford to borrow in order to take advantage of the discount?
A) 24.3%
B) 25.3%
C) 32.4%
D) 33.8%
Correct Answer:
Verified
Correct Answer:
Verified
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