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pompa pompa
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8 years ago
Tangshan Mining has extended credit terms of 3/15 net 30 EOM. The cost of giving up the cash discount, assuming payment would be made on the last day of the credit period, is 75.26 percent. If the firm were able to stretch its accounts payable to 60 days without damaging its credit rating, the cost of giving up the cash discount would only be ________.
A) 18.81%
B) 18.25%
C) 21.90%
D) 25.09%
Textbook 
Principles of Managerial Finance

Principles of Managerial Finance


Edition: 14th
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UlainUlain
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Anonymous
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A year ago
Help! The answer is missing an explanation...
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A year ago
This should help!
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