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CIMAPRA19-F01-1 Exam - Topic 2 Question 35 Discussion

EF has been offering its customers a 60 day credit period, but now wants to improve its cash flow.EF is proposing to offer a 2% discount for payment in 15 days.Assume a 365 day year and an invoice value of $100.Which of the following is the effective annual interest rate EF will incur for this action?
B) 17.8%
A) 35.4%
C) 13.1%
D) 63.4%

CIMAPRA19-F01-1 Exam - Topic 2 Question 35 Discussion

Actual exam question for CIMA's CIMAPRA19-F01-1 exam
Question #: 35
Topic #: 2
[All CIMAPRA19-F01-1 Questions]

EF has been offering its customers a 60 day credit period, but now wants to improve its cash flow.

EF is proposing to offer a 2% discount for payment in 15 days.

Assume a 365 day year and an invoice value of $100.

Which of the following is the effective annual interest rate EF will incur for this action?

Show Suggested Answer Hide Answer
Suggested Answer: B

by Benton at May 07, 2022, 12:29 AM

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Veronika
9 months ago
Are we sure about those calculations? Sounds off to me.
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Freeman
9 months ago
2% discount for early payment is smart for cash flow.
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Frank
9 months ago
Wait, 63.4%? That seems way too high!
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Elbert
9 months ago
Totally agree, that discount makes a big difference!
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Tammara
9 months ago
The effective annual interest rate is 35.4%.
upvoted 0 times
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Lynelle
10 months ago
Hmm, I'm a bit unsure about the differences between Journey Builder, Automation Studio, and Email Studio. I'll need to review the details of each tool to figure out which one is the most appropriate for this scenario.
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Billy
10 months ago
Based on my understanding, sqlcmd or azdata would be the most appropriate tools to use for this task. I'll need to double-check the details, but I feel good about those two choices.
upvoted 0 times
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Izetta
10 months ago
Hmm, I'm a little unsure about this one. I know physical labels are a common way to identify things, but I'm not sure what the other form of labeling mentioned in ISO 27002 would be. I'll have to think about this one a bit more.
upvoted 0 times
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