The expression 3/20, n/60 means:

Group of answer choices

a 15% discount (3 divided by 20) is available if the invoice is paid within 60 days

a 3% discount is available if the invoice is paid in 20 to 60 days; otherwise, the total invoice price is due

a 20% discount is available if the invoice is paid within three days of purchase; a 3% discount is available if the invoice is paid within 60 days; otherwise, the total invoice price is due

the invoice must be paid in three to twenty days; otherwise, interest for 60 days will be charged

a 3% discount is available if the invoice is paid within 20 days; otherwise, the total invoice price is due in 60 days

none of the above choices are correct