SOLUTION: If Marion takes the cash option and pays for the printer within the 15 day discount period, how much will she save?
If she takes the 90 days same as cash option and purchases
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If she takes the 90 days same as cash option and purchases
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Question 358034: If Marion takes the cash option and pays for the printer within the 15 day discount period, how much will she save?
If she takes the 90 days same as cash option and purchases the printer on December 20, using exact time, what is her deadline for paying no interest in a non-leap year? How about in a leap year?
If Marion takes the 90 days “same as cash” option and pays within 90 days, what is her payoff amount? If she can’t pay until April 20, how much will she owe? (Assume ordinary interest, exact time, and a non-leap year
Marion’s uncle works at a local bank and offers to get her a 90-day promissory note for $8,500 at 8% annual simple interest. Is this enough money for Marion to cover the purchase price of the printer? Is this a better option for Marion to persue from a finanical perspective? Research some of the issues faced by small businesses when borrowing money for investments. What would you do if you were in Marion’s place?
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