Solution-What is effective annual rate on arrangement

What is effective annual rate on arrangement

Reference no: EM131055733

A firm sells its $1,150,000 receivables to a factor for $1,138,500. The average collection period is 1 month. What is the effective annual rate on this arrangement? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Reference no: EM131055733

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What is effective annual rate on arrangement : A firm sells its $1,150,000 receivables to a factor for $1,138,500. The average collection period is 1 month. What is the effective annual rate on this arrangement?

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What is effective annual rate on arrangement

Reference no: EM131055733

Reference no: EM131055733

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