Your Company gives customers terms of 3 % off for payments within 1 0 days of invoicing
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Question:
Your Company gives customers terms of off for payments within days of invoicing and full price if paid in days. So on a $ sale, a customer pays an extra $ to pay days later. What is the implied interest rate for the customer on an annual basis?
Related Book For
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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