Cost of Trade Credit What are the nominal and effective costs of trade credit under...
50.1K
Verified Solution
Link Copied!
Question
Finance
Cost of Trade Credit What are the nominal and effective costs of trade credit under the credit terms of 1/10, net 35? Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places.
a.)Nominal cost of trade credit: %
b.) Effective cost of trade credit: %
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!