What is the apr of its nonfree trade credit

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Reference no: EM131419853

a. If a firm buys under terms of 3/15, net 45 but actually pays on the 20th day and still takes the discount, what is the APR of its nonfree trade credit?

b. Does the firm receive more or less credit than it would if it paid within 15 days?

Reference no: EM131419853

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