A firm buys on terms of 3/15, net 45. It does not take the discount, and it

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A firm buys on terms of 3/15, net 45. It does not take the discount, and it generally pays after 60 days. Compute the nominal annual percentage cost of its non-free trade credit, based on a 365-day year?

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Financial Management Theory and Practice

ISBN: 978-0176517304

2nd Canadian edition

Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason

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Question Posted: Jan 09, 2013 02:44 AM

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A firm buys on terms of 3/15, net 45. It does not take the discount, and it

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Financial Management Theory and Practice

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