23 Jul WHAT EFFECTIVE ANNUAL INTEREST RATE DOES THE FIRM EARN WHEN A CUSTOMER DOES NOT TAKE THE DISCOUNT?
(Enter your answers as directed but do not round intermedia Show more A firm offers terms of 1/25 net 40. (Enter your answers as directed but do not round intermediate calculations.) Requirement 1: What effective annual interest rate does the firm earn when a customer does not take the discount? (Enter your answer as a percentage rounded to 2 decimal places (e.g. 32.16).) Effective annual interest rate % Requirement 2: What effective annual interest rate does the firm earn if the discount is changed to 2 percent? (Enter your answer as a percentage rounded to 2 decimal places (e.g. 32.16).) Effective annual interest rate % Requirement 3: What effective annual interest rate does the firm earn if the credit period is increased to 60 days? (Enter your answer as a percentage rounded to 2 decimal places (e.g. 32.16).) Effective annual interest rate % Requirement 4: What effective annual interest rate does the firm earn if the discount period is increased to 30 days? (Enter your answer as a percentage rounded to 2 decimal places (e.g. 32.16).) Effective annual interest rate % Show less
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