1. The financial executives of a corporation believe that their working capital management policy is too conservative and wish to make it more aggressive. To achieve this result, they would seek to ______ short-term liabilities and ______ long-term debt.
2. The annualized (360 day year) cost of not taking the discount on trade credit of 2/10 net 30 is ______%.
3. What is the effective compound annual rate of interest on a $10,000 loan which is paid off by 48 monthly payments of $261 if the first payment is due 1 month after receipt of the loan?