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# Wei Fang Food Importers often tries to take advantage of cash discounts, even if it must borrow the ...

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Wei Fang Food Importers often tries to take advantage of cash discounts, even if it must borrow the money for a few days in order to pay the invoice in time. Compute the savings on Wei Fang's purchases and terms from two different suppliers. Use a 365-day year. Assume that the number of interest days is the time between the due date and the last date to take advantage of the cash discount.

 Interest Rate Days Amount Cash on of of Invoice Terms Discount Loan Interest Interest Savings a. $2,650 3/5, n/15 ________ 9% ________ ________ ________ b.$3,600 2/10, n/30 ________ 10% ________ ________ ________
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## Contemporary Business Mathematics for Colleges

Edition: 16th
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abu-jahdoabu-jahdo
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