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What are the nominal and effective costs of trade credit under the credit terms of 1/10, net 30? Assume a 365-day year. Do not round
What are the nominal and effective costs of trade credit under the credit terms of 1/10, net 30? Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places.
Nominal cost of trade credit: %
Effective cost of trade credit:
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