What is the nominal annual percentage cost of credit

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Question: A firm buys on terms of 3/15, net 45. It does not take the discount, and it generally pays after 85 days. What is the nominal annual percentage cost of its non-free trade credit, based on a 365-day year? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM131796295

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