Sorry guys... It's a little misunderstanding. The book is so vague. It doesn't mention that this question is part of the previous question.
Hello guys, I'm new here in this forum and very weak in math. I need some help with the following question.
A cash discount of 2% is given if a bill is paid no later than 20 days before its due date. At what interest rate could you afford to borrow money to take advantage of this discount?
Thanks,