A firm buys on terms of 210 net 30 but generally does not, Financial Management

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A firm buys on terms of 210 net 30 but generally does not

A firm buys on terms of 2/10, net 30, but generally does not pay until 40 days after the invoice date. Its purchases totaled $1,095,000 per year. How much “non-free” trade credit does the firm use on average each year? What is the nominal cost of “non-free” trade credit? What is the effective cost rate of the costly credit?

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Financial Management: A firm buys on terms of 210 net 30 but generally does not

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