Question
You place an order for 2,700 units of Good X at a unit price of $64. The supplier offers terms of 1/15, net 40. a-1.
You place an order for 2,700 units of Good X at a unit price of $64. The supplier offers terms of 1/15, net 40.
a-1. How long do you have to pay before the account is overdue?
a-2. If you take the full period, how much should you remit? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
b-1. What is the discount being offered? (Enter your answer as a percent.)
b-2. How quickly must you pay to get the discount?
b-3. If you do take the discount, how much should you remit? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
c-1. If you dont take the discount, how much interest are you paying implicitly? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
c-2. How many days credit are you receiving? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
a-1 | Number of Days | days | |
a-2 | Remittance | ||
b-1 | Discount Rate | % | |
b-2 | Number of Days | days | |
b-3 | Remittance | ||
c-1 | Implicit Interest | ||
c-2 | Days' Credit | days |
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