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This year your company has $34 million of credit sales and average receivables of $7 million. Your company factor receivables by discounting 1%. What is
This year your company has $34 million of credit sales and average receivables of $7 million. Your company factor receivables by discounting 1%. What is the APR of factoring the receivables?
| A | 1.00% | |
| B | 1.01% | |
| C | 4.80% | |
| D | 4.91% | |
| E | 5.00% |
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Healthcare Finance An Introduction To Accounting And Financial Management
Authors: Louis C. Gapenski
2nd Edition
1567931650, 978-1567931655
