Cost of Trade Credit Calculate the nominal annual cost of trade credit under each of the following terms. Assume a 365-day year. Do not round intermediate calculations. Round your answers to two...

Cost of Trade Credit

Calculate the nominal annual cost of trade credit under each of the following terms. Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places.

1. 
   

   1/15, net 30.

   
   

     %

   
   


2. 
   

   2/10, net 55.

   
   

     %

   
   


3. 
   

   3/10, net 50.

   
   

     %

   
   


4. 
   

   2/10, net 50.

   
   

     %

   
   


5. 
   

   2/15, net 35.

   
   

     %