Prudoe Fuels Factors Its Accounts Receivable Immediately at a Discount

question 52

Multiple Choice

Prudoe Fuels factors its accounts receivable immediately at a discount of 1.65 percent.The average collection period is 43 days.Assume all accounts are collected in full.What is the effective annual interest rate on this arrangement? Assume a 365-day year.

• A)14.97%
• B)15.17 %
• C)16.09%
• D)16.67%
• E)18.51%

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Definitions:

Parent Conferences

Meetings between educators and parents to discuss a child's academic progress, behavior, and well-being in school.

Discipline Situations

Scenarios in which rules or standards of behavior are enforced, often requiring correctional measures or guidance.

Independence Goals

Objectives aimed at achieving self-sufficiency and the ability to carry out tasks or make decisions without external support.

Toddlers

Young children, typically aged between one and three years old, who are in the early stages of walking and developing speech.