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    Oct 29, 2011, 03:00 AM
    Finance FIS250
    Chicago company makes purchases of $9.5 million (net amount) per year under the terms of 1/10, net 30, and takes the discounts.
    A. What is the average amount of accounts payable net of discounts?
    B. If your company did not take the discounts and paid on the 30th day, what will be the annual interest cost (%) of this money?

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