What is the exact cost of trade credit as an annual rate

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Reference no: EM13802878

If your firm buys $1,000 worth of supplies on credit with terms 3/15 n60 and pays the bill on the 60^th day after the purchase:

a. What is the approximate, or "nominal," cost of trade credit as an annual rate?

b. What is the exact cost of trade credit as an annual rate?

Reference no: EM13802878

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What is the exact cost of trade credit as an annual rate : If your firm buys $1,000 worth of supplies on credit with terms 3/15 n60 and pays the bill on the 60th day after the purchase: a. What is the approximate, or "nominal," cost of trade credit as an annual rate? b. What is the exact cost of trade credit..

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