Supposing You Purchase Goods on Terms of 1/10, Net 30

question 84

Multiple Choice

Supposing you purchase goods on terms of 1/10, net 30. Taking compounding into account, what annual rate of interest is implied by the cash discount? (Assume a year has 365 days.)

• A) 9.6%
• B) 9.2%
• C) 20.1%
• D) 44.6%

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Definitions:

Esteem Needs

A level in Maslow's hierarchy of needs that includes respect, self-esteem, and recognition from others.

Maslow's Hierarchy

A theory of psychological health predicated on fulfilling innate human needs in priority, culminating in self-actualization.

Feeling Of Belonging

An emotional sense of being an accepted and integral part of a group, community, or environment.

Lower Level Job

Positions within an organization that typically require less experience and responsibility, often considered entry-level roles.