The delta fish hatchery factors its accounts receivables, Ask an Expert

Finance

The Delta Fish Hatchery factors its accounts receivables immediately at a discount rate of 1.8 percent. The average collection period is 39 days. Assume all accounts are collected in full. What is the effective annual interest rate on this arrangement?

18.53 percent

17.20 percent

20.36 percent

21.78 percent

16.04 percent

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92100683

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