Financial Managment

(Cost of trade credit) Calculate the effective cost of the following trade credit terms when payment is made on the net due date. Use approximate cost-of-credit formula. Note Assume a 30-day month and 360-day year. a. 3/5, net 30 b. 4/10, net 45 c. 3/15, net 60 d. 2/15, net 60 a. When payment is made on the net due date, the APR of the credit terms of 3/5, net 30 is % (Round to two decimal places) Enter your answer in the answer box and then click Check Answer. ? 3 parts remaining Clear All Check