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A buyer is offered terms of 2/10 net 45, but the seller typically allows payment as late as day 55 with no penalty. Given this
A buyer is offered terms of 2/10 net 45, but the seller typically allows payment as late as day 55 with no penalty. Given this information, what is the effective cost to this buyer for not taking the discount? -- Correct answer is 16.55%, i just need to know how to get it.
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