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(Effective annual rate ) Compute the cost of the following trade credit terms using the compounding formula, or effective annual rate. Note : Assume a

(Effective annual rate) 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. 4/15, net 45

b. 3/10,net 30

c. 4/10, net75

d. 2/10,net 60

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