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What will be the nominal annual percentage cost

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Problem 1: The company you just started has been offered credit terms of 4/30, net 90 days. What will be the nominal annual percentage cost of its non-free trade credit if it pays 120 days after the purchase? (Assume a 365-day year.)

Option a. 16.05%

Option b. 18.63%

Option c. 19.56%

Option d. 16.90%

Option e. 17.74%

Reference no: EM132614260

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