Answered step by step
Verified Expert Solution
Question
1 Approved Answer
help please A man gets an invoice for ( $ 410 ) with terms ( 2 / 10,1 / 15, mathrm{n} / 30 ). How
help please
A man gets an invoice for \\( \\$ 410 \\) with terms \\( 2 / 10,1 / 15, \\mathrm{n} / 30 \\). How much would he pay 8 days after the invoice date? To find the net amount, muitiply the net price by the complement of the cash discount rate. Use the following formula Net amount \\( = \\) complement of cash discount rate \\( \\times \\) net price First, identify the cash discount rate. \ To find the complement of the cash discount rate, subtract the cash discount rate from the \100. \100 Second, identify the net price \\( \\$ 410 \\) Replace the terms with the known values and perform the calculations. Write the percent as a decimal \\[ \\begin{aligned} \\text { Net amount } & =\\text { complement of cash discount rate } \\times \\text { net price } \\\\ & =98 \\%(\\$ 410) \\\\ & =\\quad(\\$ 410) \\end{aligned} \\] Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started