Please help me with this question. I’m stumped!
Please help me with this question. I’m stumped!
If a firm buys on trade credit terms of 4/15, net 50 and decides to forgo the trade credit discount and pay on the net day, what is the annualized cost of forgoing the discount (assume a 365-day year)?
The annualized cost of the trade credit terms of 4/15, net 50 is ???%
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