Multiple Choice
Use the following information to answer the following question(s) .
Quick Corp.makes its purchases under terms of 2/10 net 30.
-If Quick foregoes the discount but does not pay for its purchases until day 40,what is Quick's effective cost of using this source of credit? Assume that no penalty is incurred for late payment.
A) 38.37%
B) 36.73%
C) 26.67%
D) 24.49%
Correct Answer:
Verified
Correct Answer:
Verified
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