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Question
Tivo Corporation purchases its raw materials on credit with terms of 3/10, net 30. What is the annual percentage rate (APR) of non-free trade credit if Tivo does not take the discount and pays on Day 30. In your computations, assume there are 360 days in a year.
a. 54.00%
b. 27.84%
c. 37.11%
d. 55.67%
e. 111.34%
Answer
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Related questions
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