daisiewishes
New member
- Joined
- Sep 22, 2008
- Messages
- 2
Your company sells products for cash only but is now thinking of offering credit to allow customers a 90 day period to pay. To do this, the company has to borrow money at an interest rate of 12%, daily compunding based on a 360 day year. You want to increase your prices just enough to offset the bank interest . What percent should should you raise your prices?