Your supplier offers terms of 2/15. net 45. What is the effective annual cost of...

70.2K

Verified Solution

Question

Accounting

image
Your supplier offers terms of 2/15. net 45. What is the effective annual cost of trade credit if you choose to forgo the discount and pay on day 45? (Hint: Use a 365-day year) The effective annual cost is %. Rounded to two decimal places

Answer & Explanation Solved by verified expert
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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students