Problema Solution
What payment should be made on an invoice in the amount of $3,400 dated August 7 if the terms of sale are 3/15, 2/30, n/45 and the bill is paid on August 19?
Answer provided by our tutors
Aug. 19 is 12 days after Aug. 7 so the 3/15 holds; 3% off means you pay 97%
and 97% of 3400 = 0.97 3400 = $3298.