A firm sells its $1,100,000 receivables to a factor for $1,078,000. The av
A firm sells its $1,100,000 receivables to a factor for $1,078,000. The average collection period is 1 month. What is the effective annual rate on this arrangement?
(Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
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A firm sells its $1,100,000 receivables to a factor for $1,078,000. The av.zip
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This paper was answered on 14-Oct-2020
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