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  3. calculate the nominal annual cost of trade credit

Calculate the nominal annual cost of trade credit under each of the following terms. Assume...

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Finance

Calculate the nominal annual cost of trade credit under each of the following terms. Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places.

  1. 1/15, net 30.

    %

  2. 2/10, net 55.

    %

  3. 3/10, net 45.

    %

  4. 2/10, net 45.

    %

  5. 2/15, net 40.

    %

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