SOLUTION: A man received an invoice dated March 9, with term 4/10, n/30 amounting to $550. He paid the bill on March 12. How much was the cash discount? The cash discount was $_____.
Algebra.Com
Question 828394: A man received an invoice dated March 9, with term 4/10, n/30 amounting to $550. He paid the bill on March 12. How much was the cash discount? The cash discount was $_____.
Answer by Seutip(231) (Show Source): You can put this solution on YOUR website!
Since the man payed 3 days after, therefore he will receive a discount of 4%
The
Amount to be Payed $ 528
Cash Discount $ 22
Hope that helps. :)
RELATED QUESTIONS
On March 11, Jangles Corporation received a $20,000 invoice dated March 8. Cash discount... (answered by solver91311)
Jangles corporation received a $20000 invoice dated March 3. The cash discount terms were (answered by ikleyn)
A $20,000 loan at 11 percent dated March 9 is due to be paid on July 10. The amount of... (answered by rfer)
An invoice was received for $6,200 dated June 21 with terms 2/10, EOM. What is the amount (answered by Theo,MathTherapy)
Price Company received an invoice in the amount of $3,800 dated May 24 for merchandise... (answered by ikleyn)
The Exotic Import Company received an invoice dated January 5 for a
shipment of goods... (answered by solver91311)
The Exotic Import Company received an invoice dated January 5 for a
shipment of goods... (answered by solver91311)
$20,000 loan at 11 percent dated March 9 is due to be paid on July 10. The amount of... (answered by rfer)
On June 28, Reginald paid for a $292.16 invoice dated June 19 under the terms "3/10 n... (answered by Mathtut)