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You place an order for 1,000 units of Good X at a unit price of $47. The supplier offers terms of 2/25, net 45. (Enter
You place an order for 1,000 units of Good X at a unit price of $47. The supplier offers terms of 2/25, net 45. (Enter your answer as directed, but do not round intermediate calculations.) |
Requirement 1: |
(a) | How long do you have to pay before the account is overdue? |
Number of days | days |
(b) | If you take the full period, how much should you remit? |
Remittance | $ |
Requirement 2: |
(a) | What is the discount being offered? (Enter your answer as a percentage.) |
Discount rate | % |
(b) | How quickly must you pay to get the discount? |
Number of days | days |
(c) | If you do take the discount, how much should you remit? |
Remittance | $ |
Requirement 3: |
(a) | If you dont take the discount, how much interest are you paying implicitly? |
Implicit interest | $ |
(b) | How many days credit are you receiving? |
Days credit | days |
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