What is the nominal cost of its non-free costly trade, Financial Management

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What is the nominal cost of its non-free costly trade

Assume that a firm buys on terms of 3/15, net 60. It does not take discounts, and it typically pays 60 days after the invoice date. What is the nominal cost of its non-free (costly) trade credit? Assume a 365-day year for ease of calculation. 8.11% 25.09% 37.24% 18.81%

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Financial Management: What is the nominal cost of its non-free costly trade

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