The terms of the sale were 2/13, net 61. What is the nominal rate? That is, compute the APR.

2) ABC Corporation currently has an Inventory Turnover of 19.17, an Accounts Receivable Turnover of 21.02, and an Accounts Payable Turnover of 13.86. How many days are in the cash cycle?

Answer rating: 100% (QA)

First calculate the effective interest rate for the discount period Effective Interest Rate Discount ... View the full answer