Problema Solution
A lumberyard buys some merchandise with a net price of $22,500. The terms of sale are 5/15, n/45. If a partial payment of $7,600 is sent to the wholesaler on the discount date, what is the net amount still due?
$
Answer provided by our tutors
22,500 - (7,600/0.85) = $13,558.82
The net amount still due is $13,558.82.