A firm sells its 1160000 receivables to a factor for, Financial Management

+44 141 628 6080
[email protected]

A firm sells its 1160000 receivables to a factor for

A firm sells its $1,160,000 receivables to a factor for $1,136,800. The average collection period is 1 month. What is the effective annual rate on this arrangement? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Request for Solution File

Ask an Expert for Answer!!

Financial Management: A firm sells its 1160000 receivables to a factor for

Reference No:- TGS01156095

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

Investigate the cause of the recent werewolf attacks

create a temporary committee to investigate the cause of the recent werewolf attacks in major cities throughout the United States.

Describe marxist theory and psychology of addiction

Compare the Marxist Theory and Psychology of Addiction with the Realistic Theory and psychology of Addition.

Explain framers decisions in creating the constitution

Explain how the Articles of Confederation made the above scenario possible. Describe how this scenario influenced the framers' decisions in creating the Constit

Federal bureaucracy has to put up with a lot of red tape

Question: The Federal Bureaucracy has to put up with a lot of "red tape". What is "red tape" in regards to government?

What power of recognition when it comes to office president

Question: What is "power of recognition" when it comes to the office of the president? Question Select one

What right ordinance power give to the president

Question: What right does the Ordinance Power give to the president? Question Select one:

Analyze leadership of organization during particular event

Analyze leadership of an organization during a particular event or across a defined set of events. The assignment will assess your ability to identify

Request for Solution File

Ask an Expert for Answer!!

Financial Management: A firm sells its 1160000 receivables to a factor for

Reference No:- TGS01156095

Have a Question? (oR Write a Review)

Recent Questions Asked Financial Management

Q : The timberlake-jackson wardrobe co has 101 percent coupon

Q : Lorenzo owns two apartment buildings he acquired forsythia

Q : Gilbert is considering purchasing the side steamer 3000

Q : Office max is a fast growing supplier of office products

Q : A firm sells its 1160000 receivables to a factor for

Q : You expect that the inr will depreciate against the dollar

Q : Consolidated now decides to increase next yearrsquos

Q : When combining fund statements into the government-wide

Q : Consolidated pasta is currently expected to pay annual