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Assume the credit terms offered to your firm by your suppliers are 2/15, net 30. Calculate the cost of the trade credit if your firm

Assume the credit terms offered to your firm by your suppliers are 2/15, net 30.

Calculate the cost of the trade credit if your firm does not take the discount and pays on day 30.

(Hint: Use a 365-day year.)

The cost of trade credit is %

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