Scrimpy Corporation buys materials from Frugal Enterprises. Frugal offers discount terms of 2/10, net 30. Assuming a 360-day year, what is the annual percentage rate associated with Scrimpy's failure to take advantage of the discount terms offered by Frugal?© BrainMass Inc. brainmass.com June 4, 2020, 1:05 am ad1c9bdddf
Annual percentage rate of cash discount = % discount/(100-% ...
This solution shows the steps for calculating the annual percentage rate in the given problem.