you purchase $1,000 worth of office supplies and receive a bill on 20 - oct with 4/10 eom. what is the…

you purchase $1,000 worth of office supplies and receive a bill on 20 - oct with 4/10 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 20 - oct with 4/10 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

Answer:

Bill Amount with Discount = $960 Discount Due Date (Day - Month) = 10 - Nov

Explanation:

Step1: Understand discount terms

4/10 EOM means 4% discount if paid within 10 days after the end - of - month.

Step2: Calculate discounted amount

The original amount is $1000. The discount rate is 4% or 0.04. The discount amount is $1000×0.04 = $40. So the amount to be paid is $1000 - $40=$960.

Step3: Determine discount due date

The bill is received on 20 - Oct. With 4/10 EOM, the end - of - month is Oct 31. The discount due date is 10 days after the end - of - month, which is 10 - Nov.