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What are the nominal and effective costs of trade credit

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Reference no: EM132391023

Cost of Trade Credit

What are the nominal and effective costs of trade credit under the credit terms of 3/10, net 30? Assume 365 days in a year for your calculations. Round your answers to two decimal places. Do not round intermediate calculations.

Nominal cost of trade credit %

Effective cost of trade credit %

Reference no: EM132391023

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