Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. mr. hugh warner is a very cautious businessman. hi

Mr. Hugh Warner is a very cautious businessman. His supplier offers trade credit terms of...

50.1K

Verified Solution

Question

Finance

Mr. Hugh Warner is a very cautious businessman. His supplier offers trade credit terms of 3/17, net 65. Mr. Warner never takes the discount offered, but he pays his suppliers in 55 days rather than the 65 days allowed so he is sure the payments are never late. What is Mr. Warner's cost of not taking the cash discount? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Once you have a system of equations generated by the partial fraction decomposition, can you...

Advance Math
Q

Why does the Zaitsev product always form in an E1 reaction regardless of the bulkiness of...

Chemistry
Q

A flexible machine part was observed to vibrate excessively at 20 Hz due to a harmonic...

Mechanical Engineering
Q

Celeb café wanted to change some of its furniture. The manager, Macy, contracted Trend Furniture to...

Operations Management
Q

Use the closed interval method to find the absolute maximum and absolute minimum values of...

Calculus
Q

4 3 The polynomial f x Sx 6x 12x wx S is divided by x...

Calculus
Q

The Fashion Rack has a monthly accounting period. The firms chart of accounts is shown...

Accounting
Q

Required: Display the flow of inventory. Convert the physical units into equivalent...

Accounting
Q

What is wrong with the following statement and how would you change it to make...

Accounting
Q

make sure answers are correct and show work ...

Accounting
Q

Which of the following taxes are deductible on Schedule A? a. Arizona state income taxes...

Accounting
Q

6. (5 marks) Little Co. has the following information to prepare its May bank reconciliation:...

Accounting