If a firm extends 4/10, net 60-day terms of sale, what is the ...

[jrubin]

If a firm extends 4/10, net 60-day terms of sale, what is the cost in terms of nominal APR? Assume a
  360-day year.
 
  A) 23.99 B) 30.0 C) 29.40 D) 27.86

Question 2

Which of the following factors determines the amount that a firm would have invested in accounts
  receivable?
 
  A) the volume of sales
  B) the percentage of credit sales to total sales
  C) the terms of sale
  D) collection efforts
  E) All of the above

[elyse44]

Answer to Question 1

B

Answer to Question 2

E