A firm sells its 1120000 receivables to a factor for, Finance Basics

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A firm sells its 1120000 receivables to a factor for

A firm sells its $1,120,000 receivables to a factor for $1,075,200. The average collection period is 1 month. What is the effective annual rate on this arrangement? (Round your intermediate calculations to 4 decimal places. Round your answer to 2 decimal places.)

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Finance Basics: A firm sells its 1120000 receivables to a factor for

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Finance Basics: A firm sells its 1120000 receivables to a factor for

Reference No:- TGS0606204

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : Add 1mg of alcohol dehydrogenase assuming all of the

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Q : Asketch the circuit diagram the impedance diagram and the

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Request for Solution File

Ask an Expert for Answer!!

Finance Basics: A firm sells its 1120000 receivables to a factor for

Reference No:- TGS0606204

Recent Questions Asked Finance Basics

Q : Add 1mg of alcohol dehydrogenase assuming all of the

Q : A crate of mass 450 kg is being transported on the flatbed

Q : Asketch the circuit diagram the impedance diagram and the

Q : What were the corporations earnings per share before the

Q : A firm sells its 1120000 receivables to a factor for

Q : The coefficient of performance of a refrigerator is defined

Q : A student starts with 550701 grams of iron lll nitrate

Q : A uniform constant volume charge density rhovo cm3 exists

Q : Compute the discount rate do not round intermediate

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