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Barbara Kardashian is a new accountant with Flint Discount Retail Company. Flint purchased merchandise on...

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Accounting

Barbara Kardashian is a new accountant with Flint Discount Retail Company. Flint purchased merchandise on account for $9,000. The credit terms are 110n30. Barbara has talked with the compary's banker and knows that she could eam 10% on any money invested in the compary's savinge account.
(a)
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Should Barbara pay the invoice within the discount period or should she keep the $9,000 in the savings account and pay at the end of the credit period? (Use 360 days for calculation)
Barbara take the discount as it will result in ofs
eTextbook and Media
Attempts: 1 of 1 used
(b)
If Barbara forgoes the discount, it may be viewed as paying an interest rate of 18 for the use of $9.000 far 20 days.
Calculate the annual rate of interest that this is equivalent to.(Round answer to 0 decimol ploces, es: 25%. Use 360 days for calculation.)
Equivalent annual interest rate is
%
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