question archive A firm sells its $1120000 receivables to a factor for $1075200
A firm sells its $1120000 receivables to a factor for $1075200
Subject:FinancePrice:2.86 Bought9
A firm sells its $1120000 receivables to a factor for $1075200. The average collection period is 1 month. What is the effective annual rate on this arrangement?
Option 1
Low Cost Option
Download this past answer in few clicks
2.86 USD
PURCHASE SOLUTION
Option 2
Custom new solution created by our subject matter experts
GET A QUOTE
rated 5 stars
Purchased 9 times
