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17 Your firm is offered credit terms of 3/20, net 60. What is the effective annual interest rate on this arrangement? Assume 365 days in

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17 Your firm is offered credit terms of 3/20, net 60. What is the effective annual interest rate on this arrangement? Assume 365 days in each year. Multiple Choice 24.64% 26.01% 27.38% 32.04% 34.06%

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