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Calculate the effective interest rate being charged to a customer receiving terms of 4/10, net...

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Accounting

Calculate the effective interest rate being charged to a customer receiving terms of 4/10, net 80 if the purchaser avoids the discount and pays in 80 days?

Select one:

a. 20.00%

b. 26.37%

c. 23.70%

d. 22.81%

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