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Effective annual cost of trade credit-pets store inc

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Pets Store Inc. sells on terms of 2/20, net 80. What is the effective annual cost of trade credit under these terms? Use a 365-day year. Round the answer to two decimal places in percentage form. (Write the percentage sign in the "units" box)

Reference no: EM132664146

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Effective annual cost of trade credit-pets store inc : Pets Store Inc. sells on terms of 2/20, net 80. What is the effective annual cost of trade credit under these terms?
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