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You have just purchased equipment for your company for $25 000 from your supplier, and you were offered the credit terms 1/10, Net 30. a.

You have just purchased equipment for your company for $25 000 from your supplier, and you were offered the credit terms 1/10, Net 30.

a. What is the effective annual rate of the trade credit if you choose to pay on day 30?

b. What is the effective annual rate of the trade credit if you instead choose to pay on day 50?

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