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If a firm buys under terms of 315 net 45 but actually pays

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a. If a firm buys under terms of 3/15, net 45, but actually pays on the 20th day and still takes the discount, what is the nominal cost of its non free trade credit?

b. Does it receive more or less credit than it would if it paid within 15 days?

Reference no: EM13483389

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