The D. J. Masson Corporation needs to raise $400,000 for 1 year to supply working capital to a new store. Masson buys from its suppliers on terms of 3/10, net 75, and it currently pays on the 10th day and takes discounts. However, it could forgo the discounts, pay on the 75th day, and thereby obtain the needed $400,000 in the form of costly trade credit. What is the effective annual interest rate of this trade credit

Driving would be more pleasant if we didn't have to put up with the bad habits of other drivers. a newspaper reported the results of a valvoline oil company survey of 500 drivers in which the drivers marked their complaints about other drivers. the top complaints turned out to be tailgating, marked by 24% of the respondents; not using turn signals, marked by 19%; being cut off, marked by 15%; other drivers driving too slowly, marked by 12%; and other drivers being inconsiderate marked by 5%.