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A large retailer obtains merchandise under the credit terms

A large retailer obtains merchandise under the credit terms of 1/15, net 45, but routinely takes 60 days to pay its bills. Given that the retailer is an important customer, suppliers allow the firm to stretch its credit terms. What is the retailer's effective cost of trade credit?

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Finance Basics: A large retailer obtains merchandise under the credit terms

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Finance Basics: A large retailer obtains merchandise under the credit terms

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