Tangshan Mining was extended credit terms of 3/15 net 30 EOM. The cost of giving up the cash discount, assuming payment would be made on the last day of the credit period, would be
A. 75.25%.
B. 18.56%.
C. 72.99%.
D. 37.12%.
Answer:A
Tangshan Mining was extended credit terms of 3/15 net 30 EOM. The cost of giving up the cash discount, assuming payment would be made on the last day of the credit period, would be
A. 75.25%. B. 18.56%. C. 72.99%. D. 37.12%.