Trade credit may be stated as n60 plus 18 percent on the balance outstanding after two months.

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Trade credit may be stated as n60 plus 18 percent on the balance outstanding after two months. What is the cost of this credit?

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Basic Finance An Introduction to Financial Institutions Investments and Management

ISBN: 978-1111820633

10th edition

Authors: Herbert B. Mayo

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Question Posted: Mar 19, 2015 09:36 AM

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Trade credit may be stated as n60 plus 18 percent on the balance outstanding after two months.

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n60 has no interest cost i 00 x 360 00 1 00 ...View the full answer

Basic Finance An Introduction to Financial Institutions Investments and Management

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