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Business, 03.01.2020 01:31 Fire1099

If your firm buys $1,000 worth of supplies on credit with terms 3/15 n60 and pays the bill on the 60thday after the purchase:

a. what is the approximate, or "nominal," cost of trade credit as an annual rate?
b. what is the exactcost of trade credit as an annual rate?

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If your firm buys $1,000 worth of supplies on credit with terms 3/15 n60 and pays the bill on the 60...
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