if a company purchased merchandise worth $500.00 plus $40.00 pst and $35.00 gst for a total invoice of…

if a company purchased merchandise worth $500.00 plus $40.00 pst and $35.00 gst for a total invoice of $575.00, and paid this invoice within the 3% early payment discount period, what is the dollar value of the discount received?

if a company purchased merchandise worth $500.00 plus $40.00 pst and $35.00 gst for a total invoice of $575.00, and paid this invoice within the 3% early payment discount period, what is the dollar value of the discount received?

Answer

Explanation:

Step1: Identify the invoice amount

The total invoice amount is $575.

Step2: Calculate the discount amount

The discount rate is 3%. The discount amount is calculated as the invoice amount multiplied by the discount rate. So, $575\times0.03$. $575\times0.03 = 17.25$

Answer:

$17.25$