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What is the effective annual rate on this arrangement

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Reference no: EM132085545

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

Reference no: EM132085545

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