What is the effective annual interest rate on arrangement


Problem

Rolle Delivery factors its accounts receivable immediately at a discount of 1.65 percent. The average collection period is 43 days. Assume all accounts are collected in full. What is the effective annual interest rate on this arrangement?

Request for Solution File

Ask an Expert for Answer!!
Financial Accounting: What is the effective annual interest rate on arrangement
Reference No:- TGS03337686

Expected delivery within 24 Hours