Nova Supplies Inc. offers credit terms of 3/15, net 50 to its customers. What is the nominal cost of trade credit if a customer forgoes the discount and pays on the 50th day? (Assume 365 days in a year.)
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Nova Supplies Inc. offers credit terms of 3/15, net 50 to its customers. What is the nominal cost of trade credit if a customer forgoes the discount and pays on the 50th day? (Assume 365 days in a year.)
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- 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.Assume the credit terms offered to your firm by your suppliers are 2/15, net 30 . Calculate the cost of the trade credit if your firm does not take the discount and pays on day 30 . (Hint: Use a 365 -day year.)Assume the credit terms offered to your firm by your suppliers are 2/20, net 40. Calculate the cost of the trade credit if your firm does not take the discount and pays on day 40. (Hint: Use a 365-day year.)
- Yesterday, Smiley Company sold $22,500 of merchandise on credit. The invoice was sent today with the terms, 3/10 net 40. This customer normally pays on the net date. What is the effective rate of interest the customer is paying by not taking the discount? Assume a 365-day year.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.)What is the nominal cost of trade credit if the terms are 4/10, net 45 assuming that customers forego the discount and pay on the 45th day? (365 in year) Need solution
- Newsome Inc. buys on terms of 3/15, net 45. It does not take the discount, and it generally pays after 6o days. What is the nominal annual percentage cost of its non-free trade credit, based on a 365-day year?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 %Pets Store Inc. sells on terms of 3/20, net 35. What is the effective annual cost of trade credit under these terms? Use a 365-day year. Round answer to two decimal places.
- 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.Petron Pet Supplies sells on terms of 3/10, net 60. What is the effective annual cost of trade credit under these terms? Use a 365-day year.helpKumi Ltd permits its customers to pay with a credit card or to receive a percentage discount ? for paying cash. For credit card purchases, the company receives 97% of the purchase price one-half month later. Determine the value of ? that would make the two payment methods equivalent if the company’s annual rate of return is 14%.