A merchant receives an invoice for a motor boat for $20 000 with terms 4/30, n/100. What is the highest simple interest rate at which he can afford to borrow money in order to take advantage of the discount?

A merchant receives an invoice for a motor boat for $20 000 with terms

1.	A merchant receives an invoice for a motor boat for $20 000 with terms 4/30, n/100. What is the highest simple interest rate at which he can afford to borrow money in order to take advantage of the discount?
A.	247.67
B.	237.67
C.	227.67
D.	215.67
Answer» B. 237.67