Is this question complete??
A cash discount is given if a bill is 40 days in advance of its due date. If the bill is for $5,000.00,
a. What is the highest SI rate at which you can afford to borrow money if you want to take advantage of this discount?
b. If you can borrow money at a 20% SI rate, how much money can you save by paying the bill for $5,000 forty days in advance?
I am thinking here that this question is missing the amount of the discount in order to be calculated. Am I right?? If not, how do I go about this?? I am totally lost...