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Nominal and effective costs of trade credit

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Reference no: EM132811851

What are the nominal and effective costs of trade credit under the credit terms of 2/10, net 30? Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places.

  • Nominal cost of trade credit: %
  • Effective cost of trade credit: %

Reference no: EM132811851

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