Solved: Illustrate the nominal cost of trade credit, Finance Basics

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Illustrate the nominal cost of trade credit

Problem:

A certain firm grants trade credit with terms of 2/10, net 30.

What is the nominal cost of trade credit to a customer who pays on the due date? Set calculator to four decimal places to obtain the percentage answer to two decimal places

What is the nominal cost of trade credit to the customer above who stretches the payables to 45 days?

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Finance Basics: Illustrate the nominal cost of trade credit

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