shsh1340
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Posts: 7
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| Posted: 14 Jun 2012 at 14:26 | IP Logged
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I am using Becker 2012 and supplement with Wiley. One
question is in both of the materials;however, they have
the different answers. anybody know which is the correct
answer?
CryberAge Outlet, a relatively new store, is a cafe that
offers customers the opportunity to browse the internet
or play computer games at their tables wile they drink
coffee. The customer pays a fee based on the amount of
time spent signed on to the computer. The store also
sells books, tee shirts, and computer accessories.
CyberAg has been paying all of its bills on the last day
of the payment period, thus forfeiting all supplier
discounts. Shown below are data on CyberAge's two major
vendors, including average monthly purchase and credit
terms.
Vendor average monthly purchases credit terms
Web Master $25,000 ; ; 2/10, net 30
Softidee &nbs p; 50,000 &nbs p; &nbs p; 5/10, net 90
Assuming a 360-day year and that CyberAge continues
paying on the last day of the credit period, the
company's weighted-average annual interest rate for trade
credit (ignoring the effects of computing) for these two
vendors is
A)27.0%
B)25.2%
C)28.0%
D)30.2%
The answer on becker is 28%, but on Wiley is 25.2%
Does anybody have any idea for this ???
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