[Solved] A firm buys on terms of 2/8, net 45 days,

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A firm buys on terms of 2/8, net 45 days, it does not take discounts, and it actually pays after 63 days. What is the

A firm buys on terms of 2/8, net 45 days, it does not take discounts, and it actually pays after 63 days. What is the effective annual percentage cost of its non-free trade credit? (Use a 365-day year.) 14.35% 14.06% 17.79% 12.48% 11.19%

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