you purchase $1,000 worth of office supplies and receive a bill on 13 - mar with 2/10 eom. what is the…

you purchase $1,000 worth of office supplies and receive a bill on 13 - mar with 2/10 eom. what is the amount to be paid if the discount is included? bill amount with discount = $? when is the discounted payment due? discount due date (day - month) = 10 -

you purchase $1,000 worth of office supplies and receive a bill on 13 - mar with 2/10 eom. what is the amount to be paid if the discount is included? bill amount with discount = $? when is the discounted payment due? discount due date (day - month) = 10 -

Answer

Explanation:

Step1: Understand the discount term

The term 2/10 EOM means a 2% discount if paid within 10 days after the end - of - month.

Step2: Calculate the discounted amount

The original amount is $1000. The discount rate is 2% or 0.02. The discounted amount is $1000\times(1 - 0.02)=1000\times0.98 = 980$.

Step3: Determine the discount due date

The bill is received on 13 - Mar. With 2/10 EOM, the end - of - month is Mar 31, and the discount due date is 10 days after Mar 31, which is Apr 10.

Answer:

Bill Amount with Discount = $980 Discount Due Date (Day - Month) = 10 - Apr