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Explain computations why the might not be a good strategy

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Question 1: Riley Inc. purchases $10,000,000 worth of materials each month on credit terms of 3/10, n /45. Riley always pays on day 45, never taking the discount. Riley does this because they do not collect from customers until the end of the month. Riley could borrow money from a bank at a rate of 16%. Explain through computations why this might not be a good strategy.

Reference no: EM132539812

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