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Cost of Trade Credit Calculate the nominal annual cost of trade credit under each of the following terms. Assume a 365-day year. Do not round
Cost of Trade Credit
Calculate the nominal annual cost of trade credit under each of the following terms. Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places.
a. 1/15, net 30.
%
b. 2/10, net 60.
%
c. 3/10, net 45.
%
d. 2/10, net 45.
%
e. 2/15, net 40.
%
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