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How do calculate the nominal annual cost of trade credit

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Cost of Trade Credit

Problem 1: Calculate the nominal annual cost of trade credit under each of the following terms. Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places.

1/15, net 30.         ? %

2/10, net 55.        ?%

3/10, net 45.        ?%

2/10, net 45.         ?%

2/15, net 40.          ?%

Reference no: EM132616463

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