What is the effective annual rate on this arrangement

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Reference no: EM131251134

A firm sells its $1,120,000 receivables to a factor for $1,075,200. The average collection period is 1 month.

What is the effective annual rate on this arrangement?

Reference no: EM131251134

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What is the effective annual rate on this arrangement : A firm sells its $1,120,000 receivables to a factor for $1,075,200. The average collection period is 1 month. - What is the effective annual rate on this arrangement?

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