finance-Calculate the nominal annual cost of nonfree trade credit
QUESTION
Calculate the nominal annual cost of nonfree trade credit under each of the following terms. Assume the payment is made either on the discount date or on the due date. PLEASE SHOW YOUR WORKa. 1/15, net 20b. 2/10, net 60c. 3/10, net 45d. 2/10, net 45e. 2/15, net 40
ANSWER:
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