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Compute the annual finance charge or annual finance cost

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Question - COST OF TRADE FINANCE - You purchased P50,000 worth of merchandise for sale. The supplier have give you the terms 2/5 net 15. This means you can get a 2% discount if you pay within 5 days or pay the invoice amount on the 15th day. Compute the annual finance charge or annual finance cost of paying on the 5th day and taking the trade discount on an invoice of P50,000.00?

Reference no: EM133071038

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