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8-3 Cost of Trade Credit What are the nominal and effective costs of trade credit under the credit terms of 1/10, net 35? Assume 365

8-3 Cost of Trade Credit What are the nominal and effective costs of trade credit under the credit terms of 1/10, net 35? Assume 365 days in a year for your calculations. Round your answers to two decimal places. Do not round intermediate calculations. Nominal cost of trade credit % Effective cost of trade credit %

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