Cost of Trade Credit Calculate the nominal annual cost of nonfree 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 55. Round your answer to two decimal places.
%
3/10, net 50. Round your answer to two decimal places.
%
2/10, net 50. Round your answer to two decimal places.
%
2/15, net 45. Round your answer to two decimal places.
%

i just took the test and it is financing

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

disadvantages of leasing a vehicle: no vehicle equity and mileage limitations

disadvantages of purchasing a vehicle: large down payment and vehicle depreciation

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