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If a hospitals credit terms with a vendor are 3/20, net 60, what is the approximate % cost of trade credit? Extra credit (2 pts):

If a hospitals credit terms with a vendor are 3/20, net 60, what is the approximate % cost of trade credit?

Extra credit (2 pts): If the hospital purchases $10,000,000 in supplies from this vendor, what are the amounts of free trade credit and costly trade credit?

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