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What is the nominal annual rate of interest

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Reference no: EM13993158

Assume one of your suppliers offers you trade credit of 3/10, net 30. 

A. Explain in words the meaning of the term 3/10, net 30.

B. What is the nominal annual rate of interest if you decide to use the credit and not pay in 10 days?

Reference no: EM13993158

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