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explain with reasons each options Which of the following financing arrangements offers the lowest cost of credit on an effective annual basis? a. Simple interest
explain with reasons each options
Which of the following financing arrangements offers the lowest cost of credit on an effective annual basis? a. Simple interest loan of 15% per year. b. Trade credit, on terms 1/10, net 40, paying on the net day. c. Pawn shop credit, on terms 25%, payable after 50 days. d. A bank loan with a nominal interest of 14%, with interest com-pounded monthly Step by Step Solution
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