Answered: Calculate the nominal cost of credit if…

Calculate the nominal cost of credit if the credit terms are 2/10 net 30. Assume that there are 360 days in a year. 33.83% 35.73% 36.73% 35.92%

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

Calculate the nominal cost of credit if the credit terms are 2/10 net 30. Assume that there are 360 days in a year.
33.83%
35.73%
36.73%
35.92%

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