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Ignoring defaults, what is the approximate effective cost of factoring if receivables are sold at a 9.30% discount and the average collection period is 3
Ignoring defaults, what is the approximate effective cost of factoring if receivables are sold at a 9.30% discount and the average collection period is 3 months? (No excel answers pls).
a. 66.87%
b. 47.76%
c. 34.02%
d. 36.74%
e. 42.72%
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