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Teresa just received an invoice for $30,000 with terms of 4/10 n25. The invoice date was...

Teresa just received an invoice for $30,000 with terms of 4/10 n25. The invoice date was June 1st. If she does not take advantage of the vendor discount and pays on June 30th, what is her effective interest rate? Assume 365 days in the accounting year.
*into your answer as a percentage rounded to two decimal places

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EFFECTIVE INTEREST COST AND NOT NOMINAL COST

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