On September $1,$ a firm grants credit with terms of $2/10$ net $45.$ The creditor:

Group of answer choices

receives a discount of $2\%$ when payment is made before September $1$st and pays a penalty of $10\%$ if payment is made after September $1$st$.$

must pay a penalty of $10\%$ when payment is made later than $2$ days after September $1$st$.$

receives a discount of $2\%$ when payment is made at least $10$ days before September $1$st$.$

must pay a penalty of $2\%$ when payment is made later than September $1$st$.$

receives a discount of $2\%$ when payment is made within $10$ days after the effective invoice date of September $1$st$.$