Calculate the nominal annual cost
Calculate the nominal annual cost of non free trade credit under each of the following terms. Assume payment is made either on the due date or on the discount date.
a. 1/15, net 20.
b. 2/10, net 60.
c. 3/10, net 45.
d. 2/10, net 45.
e. 2/15, net 40.
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Assuming that the notes pay interest annually and mature on December 31 of the respective years, compute the total interest payments in 2013 for these notes.
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