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a buyer failed to take advantage of the vendor's credit terms terms of 2/15, n/45, but instead paid the invoice in full at the end
a buyer failed to take advantage of the vendor's credit terms terms of 2/15, n/45, but instead paid the invoice in full at the end of 60 days. By not taking advantage of the cash discount, the buyer lost the equivalent of % annual interest on the amount of the purchase
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