Question

Use the information below to determine the amount saved if each invoice is paid in time to take advantage of the trade credit discount

Invoice amount trade credit terms amount saved
$1,300 2/10, n/30
$10,000 3/15, n/90
$22,460 2/10, n20
$645 1/15, n/30
Total

Answer 1

1274+9700+22010.80+638.55=33,623.35 Total

Step-by-step explanation:

1300*.02=26

1300-26=$1274

10000*.03=300

10000-300=9700

22460*.02=449.20

22460-449.20=22010.80

645*.01=6.45

645-6.45=638.55