Question

McCallister's just purchased $16,500 worth of inventory. The terms of the sale were 1/15, net 45. What is the implicit interest?

Answer 1

The implicit interest based on the information given is $165.

How to calculate the interest?

It should be noted that the implicit interest is calculated as:

= Inventory worth × Discount rate

= $16500 × 1%

= $165

Therefore, the implicit interest based on the information given is $165.

Learn more about interest on:

brainly.com/question/24080432

#SPJ1