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What is the effective annual rate of interest

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Reference no: EM133048541

Question - Company X sells on a 3/25, net 90, basis. Company Y buys goods with an invoice of $1,500.

How much can company Y deduct from the bill if it pays on day 25?

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

What is the effective annual rate of interest if Y pays on the due date rather than day 25?

Reference no: EM133048541

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