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Dear Sir I have another question, would you please help out,
A company has sales of $200m per year, Currently customers take on average 40 days to pay. the company is considering offering a discount of 1% for payment within 15 days and expects that %60 of customers will take advantage of the discount.
what is the effect annual cost of offering the discount?
the answer is 15.8%, how to calculate ?
many thanks
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