Question

A man gets an invoice for ​$460 with terms 4/10, ​1/15, n/30. How much would he pay 6 days after the invoice​ date?

Answer 1

$441.60

Explanation:

Invoice amount: $460

Term 4/10= 4% discount if paid early within the first 10 days of the invoice date

Amount due: $441.60

Discount amount: $18.40

Invoice amount: $460

Term: 1/15= 1% discount if paid early within the first 15 days of the invoice date

Amount due: $455.40

Discount amount: $4.60

Invoice amount: $460

Term: n/30= no discount if paid on or after the 30 days from the invoice date

Amount due: $460

Discount amount: $0