10. You purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of the discount period, and (b) the last day of the credit period.
10. You purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of the discount period, and (b) the last day of the credit period.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
BUS 038 : Business Computations
10. You purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day
of the discount period, and (b) the last day of the credit period.
11. You purchase goods on an invoice dated February 5 of a leap year, with terms of 5/10-90X. Calculate
the last day of the discount period. The discount period ends 100 days (10 + 90 = 100) after the date of
the invoice. February 5 is day 36.
12. For terms of 6/10, n/30, what annual rate do you pay the supplier if you fail to pay the invoice at the
end of the discount period?
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