Which of the following terms of trade credit is the more expensive? a. A 3 percent cash
Question:
a. A 3 percent cash discount if paid on the 15th day with bill due on the 45th day 3/15, net 45)
b. A 2 percent cash discount if paid on the 10th day with the bill due on the 30th day 2/10, net 30)
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a The simple rate of interest rate i 03 x 360 371 1 03 45 15 ...View the full answer
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Related Book For
Basic Finance An Introduction to Financial Institutions Investments and Management
ISBN: 978-1111820633
10th edition
Authors: Herbert B. Mayo
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