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Assume the credit terms offered to your firm by your suppliers are 3.1/6, Net 30. Calculate the cost of the trade credit if your firm does not take the discount and pays on day 30. The effective annual cost of the trade credit is ______%. (Round to two decimal places.)

Your supplier offers terms of 1.4/11, Net 45. What is the effective annual cost of trade credit if you choose to forgo the discount and pay on day 45? The effective annual cost of the trade credit is ______%. (Round to two decimal places.)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92167117

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