The cost of discounts missed on credit terms 2/10, n/50 is (use 360 days)
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- From the payment terms, 2/15, n/30, the discount period is ___________. a. 17 days b. 15 days c. 30 days d. 2 daysIn credit terms of 3/15, n/45, the "3" represents the Oa. full amount of the invoice Ob. number of days in the discount period Oc. number of days when the entire amount is due Od. percent of the available discount for early payment 4A credit term of 3/10 net 60 means Discount of 0.3% if paid immediately else payment is effected after 60 days Discount of 10% if paid within 3 days else payment is effected after 60 days Discount of 3% if paid within 10 days else payment is effected after 60 days 10% of the dues paid within 3 days and balance in 60 days
- If the annualized cost of the trade credit discount is 7.37%, what is the net trade credit period? Assume a discount percentage of 1% for payments received on or before 20 days. Select one: a. 20 days b. 30 days c. 50 days d. 70 daysIn credit terms of 3/15, n/45, the "3" represents the Oa. number of days in the discount period Ob. number of days when the entire amount is due Oc. percent of the cash discount )d. full amount of the invoiceIn the credit terms 1/10, n/30, what does the "1" represent? Group of answer choices number of days when the entire amount is due number of days in the discount period full amount of the invoice 1% cash discount if paid within the credit period
- Cost of Trade Credit What are the nominal and effective costs of trade credit under the credit terms of 1/10, net 40? Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places. Nominal cost of trade credit: % Effective cost of trade credit: %The cost of discounts on credit terms of 3/10, n/45 is a. 31.78% b. 31.48% c. 20.99% d. 30%In credit terms of 2/10, n/30 the "2" represents the O A. Number of days in the discount period O B. Full amount of the invoice C. Number of days when the entire amount is due O D. Percent of the cash discount
- (14) Credit earned on a partial payment of $ 600 at a discount rate of 5% is, A. $26.32 B. $ 27.35 32.26 E. NOA C. $ 28.23 D.What are the nominal and effective costs of trade credit under the credit terms of 4/10, net 40? Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places. Nominal cost of trade credit: % Effective cost of trade credit: %Which of the following terms of trade credit is the more expensive? a. A 3 percent cash discount if paid on the 15th day with bill due on the 45th day (3/15, net 45) b. A 2 percent cash discount if paid on the 10th day with the bill due on the 30th day (2/10, net 30)