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Which one of the following statements is correct if you purchase an item with credit terms of 2/15, net 30? One-half of your purchase is

Which one of the following statements is correct if you purchase an item with credit terms of 2/15, net 30?

  • One-half of your purchase is due in 15 days and the rest is due in 30 days.

  • If you do not pay within 15 days, you will be charged interest at a rate of 2 percent per month.

  • If you pay 2 percent of your purchase within 15 days, you will have 30 days to pay for the remainder.

  • If you pay within 15 days, you will receive a discount of 2 percent.

  • If you pay within 2 days, you will receive a discount of 15 percent.

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