If a Vendor's Invoice States Terms of Sale of 1/10

question 143

Multiple Choice

If a vendor's invoice states terms of sale of 1/10 net 30, and the buyer fails to take the prompt payment discount, it is effectively borrowing money at an annual rate of:

• A)18.25%.
• B)1.0%.
• C)12%.
• D)36.5%.

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Definitions:

Latino Americans

Individuals living in the United States who are descendants or originate from Latin American countries, encompassing diverse cultural and ethnic backgrounds.

Adolescent Immigrants

Young individuals, typically aged between 13 and 19, who migrate from one country to another, facing unique integration and developmental challenges.

Fastest-Growing

Describes entities or phenomena that expand or increase at the highest rate compared to others in a certain context.

SES

Stands for Socioeconomic Status, which refers to an individual's or family's economic and social position in relation to others, based on income, education, and occupation.