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A store will give you a 3% discount on the cost of your purchase-(Answered)

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A store will give you a 3% 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?

 

Paper#9256146 | Written in 27-Jul-2016

Price : $16
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