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If the annualized cost of trade credit is 25.09%, what is the discount trade credit period?...

If the annualized cost of trade credit is 25.09%, what is the discount trade credit period? Assume a net trade credit period of 60 days and a discount percentage of 3% for early payments.

A. 5 days

B. 30 days

C. 15 days

D. 45 days

PLEASE SHOW ALL WORK

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Answer #1

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ANSWER : C : 15 DAYS

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