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1. Given that my firm's terms are 3/20 Net 60. Find the APR and Effective Rate on the cost of trade Credit. 2. The same

1. Given that my firm's terms are 3/20 Net 60. Find the APR and Effective Rate on the cost of trade Credit.

2. The same company recently discovered that one of the largest customers does not pay until 10 days after the net date. What is the effective cost of trade credit for the customer?

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