Question
A firm buys on terms of 2/8, net 45 days, it does not take discounts, and it actually pays after 85 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 85 days. What is the effective annual percentage cost of its non-free trade credit? (Use a 365-day year.)
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The Business Of Personal Finance
Authors: Joseph Calandro Jr, John Hoffmire
1st Edition
1032104562, 978-1032104560
