Question
Nike Corp. buys on 3/10, net 30 days. What is the nominal cost of interest if Nike does not take advantage of the trade discount
Nike Corp. buys on 3/10, net 30 days. What is the nominal cost of interest if Nike does not take advantage of the trade discount offered? Assume a 360-day year.
A.12.0%
B. 22.3%
C. 55.7%
D. 66.3%
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Financial Markets and Institutions
Authors: Jeff Madura
11th Edition
1133947875, 9781305143005, 1305143000, 978-1133947875
