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A firm offers credit terms of 1/5, net 20. What is the effective annual rate if a customer foregoes the discount on a $3,000 purchase?
A firm offers credit terms of 1/5, net 20. What is the effective annual rate if a customer foregoes the discount on a $3,000 purchase? a. 22.50 percent b. 23.33 percent c. 24.36 percent d. 27.71 percent
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The Handbook Of Post Crisis Financial Modelling
Authors: Emmanuel Haven, Philip Molyneux, John Wilson, Sergei Fedotov, Meryem Duygun
1st Edition
