A store will give you a 100 discount on the cost of your, Ask an Expert

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A store will give you a 1.00% discount on the cost of your purchase if you pay cash today. Otherwise, you will be billed the full price with payment due in 1 month. What is the implicit borrowing rate being paid by customers who choose to defer payment for the month? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Effective annual rate %

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92415364

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