calculating cost of payable, interest rates, and days for a loan.Problem 26-13
Simple Simon’s Bakery purchases supplies on terms of 1/10, net 25. If Simple Simon’s cho
take the discount offered, it must obtain a bank loan to meet its short-term financing needs.
local bank has quoted Simple Simon’s owner an interest rate of 12\% on borrowed funds. S
Simple Simon’s enter the loan agreement with the bank and begin taking the discount?
Comparable loan

Additional days
Interest rate (additional days)
Cost of payables
1. In cell D9, by using cell references, calculate the additional days of credit (1 pt.).
2. In cell D10, by using cell references, calculate the implicit interest rate charged for the add
days of credit (1 pt.).
3. In cell D11, by using cell references, calculate the cost of payables (1 pt.).
4. In cell D13, type either trade credit or bank loan after comparing the cost of payables aga
comparable loan offered by the bank (1 pt.).
25. If Simple Simon’s chooses to
short-term financing needs. A
12\% on borrowed funds. Should
in taking the discount?
s of credit (1 pt.).
est rate charged for the additional
les (1 pt.).
ng the cost of payables against the

Purchase answer to see full

Why Choose Us

  • 100% non-plagiarized Papers
  • 24/7 /365 Service Available
  • Affordable Prices
  • Any Paper, Urgency, and Subject
  • Will complete your papers in 6 hours
  • On-time Delivery
  • Money-back and Privacy guarantees
  • Unlimited Amendments upon request
  • Satisfaction guarantee

How it Works

  • Click on the “Place Order” tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
  • Fill in your paper’s requirements in the "PAPER DETAILS" section.
  • Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
  • Click “CREATE ACCOUNT & SIGN IN” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
  • From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.