CGFM Practice Test 3

10 free CGFM practice questions in the real exam format, covering the official content areas, with an explanation for every answer.

CGFM Practice Test 3Tutor mode

Question 1 of 10

Financial Management Functions

A vendor offers a federal agency terms of 2/10, net 30 on a $50,000 invoice. Using a 365-day year, the approximate annualized rate of return the agency earns by paying on day 10 instead of day 30 is