FIN 5130-The terms of the sale were 2/5, net 41 What is the effective annual rate of interest?

Subject: Business / Accounting
Question

14. The terms of the sale were 2/5, net 41. What is the effective annual rate of interest?

18. ABC Corp. currently has an inventory turnover of 10, a payables turnover of 7.18, and a receivables turnover of 14.6. How many days are in the operating cycle?

21. ABC Company writes 30 checks a day for an average amount of$793each.These checks generally clear the bank in6days.In addition,the firmgenerally receives an average of$8,225a day in checks that aredeposited immediately.Deposited funds are available in2days.Whatis the firm’s netfloat?

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