Multiple Choice
A merchant receives an invoice for $4000 with terms 4/30,n/100.What is the highest rate of simple interest at which he can afford to borrow in order to take advantage of the discount?
A) 14.60%
B) 15.21%
C) 20.86%
D) 21.73%
Correct Answer:
Verified
Correct Answer:
Verified
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