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Newsome Inc. buys on terms of 4/10, net 45. It does not take the discount, and it generally pays after 60 days. What is the effective (not nominal) annual percentage cost of its non-free trade credit, based on a 365-day year?

Respuesta :

Tundexi

Answer:

28.19%

Explanation:

Cost of trade credit = (1 + D/1-D)^(365/n) - 1

Cost of trade credit = (1 + 0.04/1-0.04)^(365/60) - 1

Cost of trade credit = (1 + 0.04/0.96)^(6.083) - 1

Cost of trade credit = (1.04167)^(6.083) - 1

Cost of trade credit = 1.28189526454 - 1

Cost of trade credit = 0.28189526454

Cost of trade credit = 28.19%

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