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3)Calculate the nominal annual cost of trade credit under each of the following terms. a. 1/15, net 20 b. 2/10, net 60 c. 3/10, net

3)Calculate the nominal annual cost of trade credit under each of the following terms.

a. 1/15, net 20

b. 2/10, net 60

c. 3/10, net 45

d. 2/10, net 45

e. 2/15, net 40

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