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A firm sells its 1170000 receivables to a factor for

A firm sells its $1,170,000 receivables to a factor for $1,134,900. The average collection period is 1 month. What is the effective annual rate on this arrangement? (Round your intermediate calculations to 4 decimal places. Round your answer to 2 decimal places.) Effective annual rate %.

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Finance Basics: A firm sells its 1170000 receivables to a factor for

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Finance Basics: A firm sells its 1170000 receivables to a factor for

Reference No:- TGS0623662

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : For the following changes determine if the equilibrium

Q : Write a short paper advising bill and darlene what business

Q : Two programs x and y were executed in three different

Q : Asaturated solution of mgf2 has mg2 26 x 10 -4 m and f-

Q : A firm sells its 1170000 receivables to a factor for

Q : A circuit consists of three elements in series a source

Q : In a serve a tennis player hits the ball horizontally

Q : Electrons are moving from left to right through a conductor

Q : A compound composed of iron and carbon monoxide fe x co y

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Request for Solution File

Ask an Expert for Answer!!

Finance Basics: A firm sells its 1170000 receivables to a factor for

Reference No:- TGS0623662

Recent Questions Asked Finance Basics

Q : For the following changes determine if the equilibrium

Q : Write a short paper advising bill and darlene what business

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Q : Asaturated solution of mgf2 has mg2 26 x 10 -4 m and f-

Q : A firm sells its 1170000 receivables to a factor for

Q : A circuit consists of three elements in series a source

Q : In a serve a tennis player hits the ball horizontally

Q : Electrons are moving from left to right through a conductor

Q : A compound composed of iron and carbon monoxide fe x co y

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