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McCallister's just purcahsed $15,500 worth of inventory . The terms of the sale were 1/10, net 30. What is the implicit interest ?
McCallisters just purchased $15,600 worth of inventory. The terms of the sale were 1/10, net 30. What is the implicit intere
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Answer #1

Implicit interest is = Value of Inventory purchased * 1%

Implicit interest is = (15600*1%)

Implicit interest is = $ 156

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