Multiple Choice
A firm buys on terms of 3/15,net 45.It does not take the discount,and it generally pays after 85 days.What is the nominal annual percentage cost of its non-free trade credit,based on a 365-day year?
A) 17.58%
B) 15.00%
C) 18.55%
D) 16.13%
E) 13.22%
Correct Answer:
Verified
Correct Answer:
Verified
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