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How much can company y deduct from the bill

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Reference no: EM132963535

Question - Company X sells on a 2/15, net 90, basis. Company Y buys goods with an invoice of $3,500.

a. How much can company Y deduct from the bill if it pays on day 15?  

b. How many extra days of credit can company Y receive if it passes up the cash discount?

c. What is the effective annual rate of interest if Y pays on the due date rather than day 15?

Reference no: EM132963535

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