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Piotr receives an invoice for $10.150.00. The terms of the invoice are 2/7 net 20. If he doesn't pay the discounted amount on day
Piotr receives an invoice for $10.150.00. The terms of the invoice are 2/7 net 20. If he doesn't pay the discounted amount on day 7 but pays the full amount on day 20, what is the effective simple interest rate their supplier is charging them? Use the daycount convention ACT/365 Oa 57.300% Ob 57.873% Oc $9.019% Od 63603% O 55.008%
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Cost Accounting Traditions and Innovations
Authors: Barfield Jesse, Raiborn Cecily, Kinney Michael
4th edition
324026455, 978-0324026450
