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Compute the cost of the following trade credit terms using the compoundingformula, or effective annual rate. Note : Assume a30-day month and360-day year. a. 2

Compute the cost of the following trade credit terms using the compoundingformula, or effective annual rate. Note: Assume a30-day month and360-day year.

a. 2/10 net 30

b. 3/15 net 30

c. 3/15 net 45

d. 2/15 net 60

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