Your company purchased $10,000 worth of inventory on January 2 on credit. The terms of sale are 3/15 net 45. What is the annual percentage rate if you pay the full amount in 45 days?
A) 3.1%
B) 28.0%
C) 37.6%
D) 44.9%
E) 74.3%
Correct Answer:
Verified
Q168: A firm sells 45,000 units a year.
Q169: Cindy's Toys has an average inventory of
Q170: Each year you sell 3,000 units of
Q171: A board game sells for $29.99. Leo's
Q172: Your company is considering granting credit to
Q174: Babylon Corporation has an annual demand of
Q175: What is the break-even default rate?
A) 3.2%
B)
Q176: One of the primary products your firm
Q177: Your company currently sells a product with
Q178: Bridgewater, Inc. currently sells 4,500 units a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents