Leiner Corp Is A Retailer Which Finances Its Purchases With Trade Credit Under The Following Terms 1/10 Net 30

2020-05-14 0 Comment Greta D Morejon

Discount rate = 1%
Discount days = 10 days
Rate on Bank Loan = 10.1349%
Approximate cost of this trade credit is calculated below using following formula:
365
10.1349% = 1+
Discount %
Full allowed…Finance