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Pets Store Inc. sells on terms of 1/20, net 65. What is the effective annual cost...

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Finance

Pets Store Inc. sells on terms of 1/20, net 65. What is theeffective annual cost of trade credit under these terms? Use a365-day year.

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Solution The formula for calculating the effective annual cost of trade credit is 1 Discount rate 1 Discount Rate n 1 Where n No of days in a period    See Answer
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Transcribed Image Text

Pets Store Inc. sells on terms of 1/20, net 65. What is theeffective annual cost of trade credit under these terms? Use a365-day year.

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