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Manal Elkhoshkhany
Manal Elkhoshkhany, Tutor
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Affleck Inc.s business is booming, and it needs to raise more

Customer Question

Affleck Inc.'s business is booming, and it needs to raise more capital. The company purchases supplies on terms of 1/10 net 20, and it currently takes the discount. One way of getting the needed funds would be to forgo the discount, and the firm's owner believes she could delay payment to 40 days without adverse effects. What would be the effective annual percentage cost of funds raised by this action? (Assume a 365-day year.)
a. 10.59%
b. 11.15%
c. 11.74%
d. 12.36%
e. 13.01%

Tell why
Submitted: 4 years ago.
Category: Homework
Expert:  Manal Elkhoshkhany replied 4 years ago.

You need to spend $3 to view this post. Add Funds to your account and buy credits.
Customer: replied 4 years ago.
I click on the link and the screen was blank please send me this answer and tell why in email. thanks
Expert:  Manal Elkhoshkhany replied 4 years ago.
I clicked on the link and it is working fine. and it is the full solution.

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