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(Annual percentage yield) Compute the cost of the following trade credit terms using the compounding formula, or effective annual rate. Note: Assume a 30-day month
(Annual
percentage
yield)
Compute the cost of the following trade credit terms using the compounding formula, or effective annual rate.
Note:
Assume a 30-day month and 360-day year.
a.
4/5,
net 60
b.
3/10,
net 45
c.
4/10,
net 60
d.
2/10,
net
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