Find the annualized cost of trade credit

Reference no: EM131931377

Question: ABC extends credit to its customers on terms of 1/10, net 30. Assuming a customer pays the invoice at the end of the costly trade credit period, what is the annualized cost of trade credit? (Show your answer in decimal form to four places, e.g., 12.34% would be 0.1234)

Reference no: EM131931377

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