What are the nominal and effective costs of trade credit under the credit terms of 3/20, net 35? Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places. Nominal cost of trade credit: % Effective cost of trade credit:
What are the nominal and effective costs of trade credit under the credit terms of 3/20, net 35? Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places. Nominal cost of trade credit: % Effective cost of trade credit:
Chapter1: Financial Statements And Business Decisions
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Cost of Trade Credit
What are the nominal and effective costs of trade credit under the credit terms of 3/20, net 35? Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places.
Nominal cost of trade credit: %
Effective cost of trade credit: %
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