Problem Set 3 Q Search this course Back to Assignment X Attempts Keep the Highest 1 3. Problem 16-04 (Cost of Trade Credit) Cost of Trade Credit A large retailer obtains merchandise under the credits of 3/10, net 45, but routinely 7 days to pay it is (ecause the ris an important customer suppliers allow the firm to stretch its credit terms. What is the retailer's effective cost of trade credit? Assume365year. Do not found intermediate calculation Round your answer to two decimal places Grade it Now Save & Continue Continue without Problem Set 3 Q Search this course Back to Assignment X Attempts Keep the Highest 1 3. Problem 16-04 (Cost of Trade Credit) Cost of Trade Credit A large retailer obtains merchandise under the credits of 3/10, net 45, but routinely 7 days to pay it is (ecause the ris an important customer suppliers allow the firm to stretch its credit terms. What is the retailer's effective cost of trade credit? Assume365year. Do not found intermediate calculation Round your answer to two decimal places Grade it Now Save & Continue Continue without