Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. a retailer owes a wholesaler 600 000 due in 45 day

A retailer owes a wholesaler 600 000 due in 45 days If the payment is...

60.1K

Verified Solution

Question

Basic Math

image

A retailer owes a wholesaler 600 000 due in 45 days If the payment is 15 days late there is a 1 penalty charge The retailer can get a 45 day certificate of deposit CD earning 7 per year simple interest or a 60 day certificate earning 8 per year simple interest Is it better to take the 45 day certificate and pay on time or to take the 60 day certificate and pay late with the penalty The 45 day certificate is better The 60 day certificate is better They are equivalent

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

You have been hired by a company as a Statistical Consultant, for the purpose of determining...

Biology
1.2K views

In a genetic screen certain phenotypes are selected in a mutagenized population to unravel the...

Biology
1.2K views

underlined word incorrectly A I only get minimal exercise in a day even though I...

Basic Math
1.2K views

A small child is climbing up a slide angled at 27.0 above the horizontal. They...

Statistics
1.2K views

You are a researcher studying the health habits of people living in a large rural...

Calculus
1.2K views

Convert the numeral to a numeral in base 12 5505

Accounting
1.2K views

Cramer Company sold five-year, 6% bonds on October 1, 2016. The face amount of the...

Accounting
1.2K views

The management of Penfold Corporation is considering the purchase of a machine that would cost...

Accounting
1.2K views

Tiffany and Carlos decided to liquidate their jointly owned corporation, Royal Oak Furniture (ROF). After...

Accounting
1.2K views

Delush Limited, a wine manufacturing company, has a 31 December financial year end. The following...

Finance
1.2K views

You have recommended a $500,000 Universal Life policy with a Level Death Benefit plus Account...

Accounting
1.2K views

Earthern Ware is a manufacturer of large flower pots for urban settings. The company has...