A company has a collection period of 33 days and factors all receivables immediately at a discount of 2.3 percent. What is the effective annual cost of borrowing? Assume 365 days per year. Multiple Choice 29.35% 27.01% 26.04% 28.60% 25.42%
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- A company has a collection period of 40 days and factors all receivables immediately at a discount of 1.8 percent. What is the effective annual cost of borrowing? Assume 365 days per year. Multiple Choice 18.03% 16.70% 17.68% 15.71% 16.73% Please answer fast i give you upvote.A company has a collection period of 36 days and factors all receivables immediately at a discount of 2.6 percent. What is the effective annual cost of borrowing? Assume 365 days per year. Multiple Choice O 27.06 percent 30.62 percent 29.72 percent 26.42 percent 28.07 percentA credit card company charges 23.0% interest per year, compounded monthly. What effective annual interest rate does the company charge? Note: The effective annual interest rate is the return on an investment or the rate owed in interest on a loan when compounding is taken into account. O 25.71% 25.22% 25.59% O24.95% G
- Help Save & Exit A company has a collection period of 37 days and factors all receivables immediately at a discount of 2.7 percent. What is the effective annual cost of borrowing? Assume 365 days per year.MULTIPLE CHOICE Milch Corporation sells on terms of net/90. Their accounts receivable are on average 20 days past due. If annual credit sales are P650,000, what is the company’s average investment in accounts receivable? *A. P168,611.11B. P178,611.11C. P188,611.11D. P244,444.00E. P198,611.11Suppose your credit card issuer states that it charges a 22.50% nominal annual rate, but you must make monthly payments, which amounts to monthly compounding. What is the effective annual rate? a. 24.23% b. 24.97% c. 22.50% d. 24.47% e. 23.77%
- What is the approximate annual cost of foregoing the cash discount if the credit term is 2/15, net 40 and the company pays end of 50 days? Use 360 days a year. Group of answer choices 28.80 percent 29.39 percent 20.57 percent 20.99 percentSuppose your credit card issuer states that it charges a 17.00% nominal annual rate, but you must make monthly payments, which amounts to monthly compounding. What is the effective annual rate? a.16.08% b.16.88% c.15.27% d.17.72% e.18.39%A financing company charges 1.5% per month on a loan. Find the equivalent effective rate of interest. 19.5618% 18.5618% 17.5618% 16.5618%
- Given an annual credit sales value of 365 million; accounts receivable beg. 36.5 million, cost of goods sold of 240 million, and beginning inventory of 20 million, how long is the average colelction period? (assume 365 days in a year) a. 30 days b. 55.5 days c. 36.5 days d. 10 daysA financing company charges 1% every week on a loan. Find the equivalent effective rate of interest. O 67.77% O 66.77% 68.77% 69.77%so.4 A credit card has a $730 balance and a 18.44% annual percentage rate the minimum required monthly payment is 2.83% of the balance estimate the credit card balance after 54 payments.