Question
Book Depot Inc. sells on terms of 1/20, net 85. What is the implicit cost of trade credit under these terms? Use a 365-day year.
Book Depot Inc. sells on terms of 1/20, net 85. What is the implicit cost of trade credit under these terms? Use a 365-day year.
Round the answer to two decimal places in percentage form.(Write the percentage sign in the "units" box)
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Personal Finance
Authors: E. Thomas Garman, Raymond E. Forgue
13th edition
1337099759, 978-1337516440, 1337516449, 978-1337099752
