Cost of Trade Credit
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. Assume 365 days in year for your calculations. Do not round intermediate calculations.
1/15, net 25. Round your answer to two decimal places.
%
2/10, net 60. Round your answer to two decimal places.
%
3/10, net 55. Round your answer to two decimal places.
%
2/10, net 55. Round your answer to two decimal places.
%
2/15, net 35. Round your answer to two decimal places.
%