Abc extends credit to its customers on terms of 210 net 30, Finance Basics

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Abc extends credit to its customers on terms of 210 net 30

Question: ABC extends credit to its customers on terms of 2/10, net 30. Assuming a customer pays the invoice at the end of the costly trade credit period, what is the annualized cost of trade credit? (Show your answer in decimal form to four places, e.g., 12.34% would be 0.1234)

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Finance Basics: Abc extends credit to its customers on terms of 210 net 30

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