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9 Assigned Problem 2 5 Suppose one of the suppliers to Seattle Health System offers terms of 3/20, net 60. 7 a. When does the

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9 Assigned Problem 2 5 Suppose one of the suppliers to Seattle Health System offers terms of 3/20, net 60. 7 a. When does the system have to pay its bills from this supplier? Bb. What is the approximate percentage cost of the costly trade credit offered by this supplier? (Assume 360 days per year.) 10 11 ANSWER 12 13 14 a. 15 16 b. 17 18 19 Discount percent 20 Days credit received 21 Days of free trade credit 22 Periodic cost of trade credit 23 Number of discount periods per year 24 Approximate % cost 25 26

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