Question: anyone know how to do it in step by step A B C D E F G H 1 Nm 4 5 A firm buys

anyone know how to do it in step by step

A B C D E F G H 1 Nm 4 5 A firm buys on terms of 2/10, net 45 days; it does not take discounts and pays on day 45. What is the effective annual percentage cost of its trade credit? (Use a 365-day year.) 6 7 8 9 10 discount % discount days days of credit Terms of trade 2/10, net 45 11 12 13 Nominal cost of trade credit 14 15 16 Days of costly credit Effective cost of trade credit 17

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