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Assume the credit terms offered to your firm by your suppliers are 3/10, net 60....

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Finance

Assume the credit terms offered to your firm by your suppliers are 3/10, net 60. Calculate the cost of the trade credit if your firm does not take the discount and pays on day 60. (Hint: Use a 365-day year.)

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Part 1

The cost of trade credit is enter your response here%. (Rounded to two decimal places.)

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