you contract with an interior designer to make plans for your home. her bill is $2,200 2/10 net 30. find the…

you contract with an interior designer to make plans for your home. her bill is $2,200 2/10 net 30. find the amount needed to pay the bill with the discount included.

you contract with an interior designer to make plans for your home. her bill is $2,200 2/10 net 30. find the amount needed to pay the bill with the discount included.

Answer

Explanation:

Step1: Identify the discount rate

The terms 2/10 net 30 mean a 2% discount if paid within 10 days. So the discount rate $r = 0.02$.

Step2: Calculate the amount to be paid

The original bill amount $A_0=2200$. The amount to be paid $A$ after discount is calculated by $A = A_0(1 - r)$. Substitute $A_0 = 2200$ and $r=0.02$ into the formula: $A=2200\times(1 - 0.02)=2200\times0.98$. $A = 2156$.

Answer:

$2156$