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Luckenbach industries has been offered credit terms of 2/15,

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Luckenbach industries has been offered credit terms of 2/15, net 30 days. Answer the following;a)What will be the nominal annual percentage cost of its non-free credit if it pays 60 days after the purchase? (Assume a 365-day year.);b)What is the effective annual percentage cost of its non-free trade credit if it pays 60 days after the purchase? (Assume a 365-day year.)

 

Paper#27066 | Written in 18-Jul-2015

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