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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.

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. 2/5, net 60

b. 2/15, net 45

c. 3/10, net 60

d. 4/10, net 60

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