iscount offered and pays the suppliers 5 days after the due date, what is the annual intere te cost (Use 360-day year)? ut percentage sign e.g. XX.XX%

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Bulldogs Inc. is given terms of 2/10, net 45 by its suppliers. If Bulldogs Inc. forgoes the cash
discount offered and pays the suppliers 5 days after the due date, what is the annual interest
rate cost (Use 360-day year)?
Put percentage sign e.g. XX.XX%
Transcribed Image Text:Bulldogs Inc. is given terms of 2/10, net 45 by its suppliers. If Bulldogs Inc. forgoes the cash discount offered and pays the suppliers 5 days after the due date, what is the annual interest rate cost (Use 360-day year)? Put percentage sign e.g. XX.XX%
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