Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. pets store inc. sells on terms of 1/20, net 65. wh

Pets Store Inc. sells on terms of 1/20, net 65. What is the effective annual cost...

60.1K

Verified Solution

Question

Finance

Pets Store Inc. sells on terms of 1/20, net 65. What is theeffective annual cost of trade credit under these terms? Use a365-day year.

Answer & Explanation Solved by verified expert
4.2 Ratings (695 Votes)
Solution The formula for calculating the effective annual cost of trade credit is 1 Discount rate 1 Discount Rate n 1 Where n No of days in a period    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

Pets Store Inc. sells on terms of 1/20, net 65. What is theeffective annual cost of trade credit under these terms? Use a365-day year.

Other questions asked by students

Q

Transition forest - overlap zones between needleleaf forests and deciduous forestsAppalachian Cove forest - climax...

Biology
Q

2a. Find the orthogonal projection of [9,40,-29,4] onto the subspace of R4 spanned by [1,6,5,6] and...

Advance Math
Q

Strategic Marketing: Porter’s Value Chain is made up of Primary Stages and Support Activities. Use a matrix to...

General Management
Q

6 Suppose a drought caused the local extinction of all insects slugs and clams This...

Biology
Q

Question 2 After the first hundred days of Roosevelt in office he pushed through pieces...

Biology
Q

A thin uniform rod AB of mass m 1 kg moves translationally with acceleration a...

Physics
Q

Graph the given function State the period amplitude phase shift and vertical shift of the...

Basic Math
Q

Exponential EquationsExponential Equation: y =abContinuous Compounding: A =PertIn 2011, there were 8500 cell phone subscribers...

Basic Math
Q

4 Find each limit or explain why it doesn t exist a lim 3 b...

Calculus
Q

Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two...

Accounting
Q

Java Company currently has a capital structure consisting of 55% debt and the remaining as...

Accounting
Q

need help ASAP Lamar's Fortune 100 Company...

Accounting