Cost of Trade Credit

Assignment: Week 8: Homework Assignment Score: 61.11% Courses Save Submit Assignment for Grading Catalog and Study Tools Questions Problem 16-03 (Cost of Trade Credit) Question 3 of 8 Partner Offers 1. Check My Work Rental Options 3 eBook College Success Tips Cost of Trade Credit Career Success Tips 5. What are the nominal and effective costs of trade credit under the credit terms of 2/20, net 40? Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places. ? Help 7. Nominal cost of trade credit: 36.51 % Give Feedback Effective cost of trade credit: 44.9 0% Hide Feedback Partially Correct Check My Work O- Icon Key Problem 16-03 (Cost of Trade Credit) Question 3 of 8 Save Submit Assignment for Grading