Calculate the nominal annual cost of non free trade credit
Calculate the nominal annual cost of non free trade credit under each of the following terms. Assume payment is made either on the due date or on the discount date.
a. 1/15, net 20.
b. 2/10, net 60.
c. 3/10, net 45.
d. 2/10, net 45.
e. 2/15, net 40.
Now Priced at $20 (50% Discount)
Recommended (90%)
Rated (4.3/5)
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If a firm buys under terms of 3/15, net 45, but actually pays on the 20th day and still takes the discount, what is the nominal cost of its non free trade credit?
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