Company X sells on a 2/15, net 90, basis. Company Y buys goods with an invoice of $1,000. Requirements: (a) How much can company Y deduct from the bill if it pays on day 15? (b) How many extra days of credit can company Y receive if it passes up the cash discount? (c) What is the effective annual rate of interest if Y pays on the due date rather than day 15?
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- Company X sells on a 2/15, net 60, basis. Company Y buys goods with an invoice of $4,500. a. How much can company Y deduct from the bill if it pays on day 15? (Do not round intermediate calculations.) b. How many extra days of credit can company Y receive if it passes up the cash discount? c. What is the effective annual rate of interest if Y pays on the due date rather than day 15? (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)Company X sells on a 2/10, net 90, basis. Company Y buys goods with an invoice of $1,500. a. How much can company Y deduct from the bill if it pays on day 10? Note: Do not round intermediate calculations. b. How many extra days of credit can company Y receive if it passes up the cash discount? c. What is the effective annual rate of interest if Y pays on the due date rather than day 10? Note: Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. a. Discount b. Number of days c. Effective annual rate $ 75 80 days %Need help with C only Company X sells on a 1/15, net 60, basis. Company Y buys goods with an invoice of $1,500. a. How much can company Y deduct from the bill if it pays on day 15? (Do not round intermediate calculations.) $15 b. How many extra days of credit can company Y receive if it passes up the cash discount? 45 days c. What is the effective annual rate of interest if Y pays on the due date rather than day 15? (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) ???
- Compsny X sells on a 1/15, net 90, basis. Company Y buys goods with an invoice of $3,000. Discount= $30 Number of days= 75 C.) What is the effective annual rate of interest if Y pays on the due date rather than day 15? (Use 365 days in a year. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)A company buys on terms of 2/15, net 30 days. It does not take discounts, and it typically pays 35 days after the invoice date. Net purchases amount to P720,000 per year. What is the nominal annual cost of its non-free trade credit? (Assume a 365-day year.) Show your complete solution.Atlanta Cement, Inc. buys on terms of 2/15, net 30. It does not take discounts, and it typically pays 65 days after the invoice date. Net purchases amount to $720,000 per year. What is the nominal annual percentage cost of its non-free trade credit, based on a 365-day year? Please explain process and show calculations.
- Black Panther Inc. buys on terms of 2/15, net 60 days. It does not take discounts, and it typically pays on time, 60 days after the invoice date. Net purchases amount to P450,000 per year. On average, how much “free" trade credit does the firm receive during the year? (Assume a 365-day year, and note that purchases are net of discounts.) * O P19,418 P20,389 P21,408 P22,479 P18,493American Express and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 17.25%, with interest paid monthly, what is the card's EFF%? Select the correct answer. a. 18.68% b. 12.88% c. 9.98% d. 24.48% e. 15.78%Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 19.00%, with interest paid monthly, what is the card's EFF%? a.18.58% b. 19.52% с. 20.75% d. 21.94% e. 22.65%
- Blossom Company purchased merchandise with an invoice price of $3400 and credit terms of 2/8, n/30. Assuming a 360-day year, what is the implied annual interest rate inherent in the credit terms?PLEASE SHOW ALL WORK 6. You receive an invoice for $18,300 with terms of 5/15, n/60. If the supplier has a policy of allowing a cash discount for partial payments and you pay $11,500 within the discount period, calculate the amount of credit you will receive for this payment.Amount credited = Amount paidComplement of cash discount rate = $11,500 7. For terms of 8/10, n/60 determine the annual rate you, in effect, pay the supplier if you fail to pay the invoice at the end of the discount period. Express the rate with 2 decimal places. 8. An invoice for $75.20 has terms of 3/10, 1/30, n/60. If you make payment 25 days after the invoice date, what amount should you pay? 9. You purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods on July 23, calculate(a) the last day of the discount period, and (b) the last day of the credit period.b. Last day of credit period:13) A customer with unpaid balance for merchandise of $210.00 from the previous month has been paying $75.00 a month. Bank credit terms are 1% interest per month on all unpaid balances and a minium interest charge of 50 cents. If the customer makes no new purchases and maintains the montly payment of $75 a month, calculate the total amount of finance charge that he will pay. Finance charge: ?