Please give me answer with accounting question Apex Factoring Company purchased $150,000 of accounts receivable fromWilson Industries for $138,000. The receivables were to be collected within 45days. After 60 days, Apex was able to collect $144,000 of the receivables. Whatwas Apex Factoring Company's annualized rate of return on this investment?

Step 1: Definition of Annualized Rate of ReturnThe annualized rate of return is a measure of the…

Answered: Apex Factoring Company purchased…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter22: Providing And Obtaining Credit

Section: Chapter Questions

Problem 2MC

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