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Cost of Trade Credit What are the nominal and effective costs of trade credit under the credit terms of 1/15, net 30? Assume a 365-day
Cost of Trade Credit What are the nominal and effective costs of trade credit under the credit terms of 1/15, net 30? Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places.
Nominal cost of trade credit: %
Effective cost of trade credit: %
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