Write the last date to receive a discount on an invoice received on June 9 if the terms are $10/20; n/60$.
Answer (2)
The invoice was received on June 9.
The discount period is 20 days.
Add 20 days to June 9 to find the last date for the discount.
The last date to receive the discount is J u n e 29 .
Explanation
Understanding the Problem The problem states that an invoice was received on June 9 and the terms are 10/20 ; n /60 . This means that a 10% discount is offered if the invoice is paid within 20 days, and the net amount is due within 60 days. We need to find the last date to receive the discount.
Calculating the Discount Date To find the last date to receive the discount, we need to add 20 days to the invoice date, which is June 9.
Determining the Last Date Adding 20 days to June 9 gives us June 29.
Examples
Understanding invoice terms like 10/20 ; n /60 is crucial in business and personal finance. For example, if a small business receives an invoice for $1000 with these terms, paying within 20 days would result in a 10% discount, saving $100. This demonstrates how understanding and utilizing such terms can lead to significant cost savings. Missing the discount window means paying the full amount, highlighting the importance of timely payments.
The last date to receive a discount on an invoice received on June 9 is June 29. This is calculated by adding 20 days to the invoice date. Understanding these terms helps in managing financial responsibilities efficiently.
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