Multiple Choice
A firm buys on terms of 3/15,net 45.It does not take the discount,and it generally pays after 60 days.What is the nominal annual percentage cost of its non-free trade credit,based on a 365-day year?
A) 25.09%
B) 27.59%
C) 30.35%
D) 33.39%
E) 36.73%
Correct Answer:
Verified
Correct Answer:
Verified
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