Question
Apache Corp offers its customers payment terms of 4/10 EOM, net 70. Assuming 365 days in a year, calculate the implicit cost of trade credit
Apache Corp offers its customers payment terms of 4/10 EOM, net 70. Assuming 365 days in a year, calculate the implicit cost of trade credit (Do not round intermediate calculations. Round final answer to two decimal places).
A. none of the answers is correct.
B. 28.19%
C. 30.69%
D. 16.08%
E. 48.95%
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Introduction To Derivatives And Risk Management
Authors: Robert Brooks, Don M Chance, Roberts Brooks
8th Edition
0324601212, 9780324601213
