SOLUTION: An invoice for $8,500.00 is dated June 4; the terms are 5/15, n/30. Find the discount if the invoice is paid within nine days of the invoice date.

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: An invoice for $8,500.00 is dated June 4; the terms are 5/15, n/30. Find the discount if the invoice is paid within nine days of the invoice date.      Log On


   

Question 168791: An invoice for $8,500.00 is dated June 4; the terms are 5/15, n/30. Find the discount if the invoice is paid within nine days of the invoice date.
Answer by Mathtut(3670) About Me  (Show Source):
You can put this solution on YOUR website!
so payment is made within the (5% discount within 15 day) period
discount = 8500(.05)=$425