Question
Your supplier offers terms of 4/10, net 45. What is the effective annual cost of trade credit if you choose to forgo the discount and
Your supplier offers terms of 4/10, net 45. What is the effective annual cost of trade credit if you choose to forgo the discount and pay on day 45? (Hint: Use a 365-day year).
The effective annual cost is ____%
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Principles Of Financial Accounting Ch 1 17
Authors: Robert Libby, Patricia Libby, Fred Phillips, Stacey Whitecotton
1st Edition
0077370457, 9780077370459
