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Your bill from Acme Supply Company is marked "3/15, net 30." The amount of the bill is $289.95. If you pay the bill within 15 days, how much should you tender?


$8.70

$87.00

$281.25

$298.95

Verified Answer :

289.95* .97

Answer= C. 281.25

Answer:

You should tender $281.25.

Step-by-step explanation:

Your bill from Acme Supply Company is marked "3/15, net 30

There is written "3/15, net 30" on the bill. It means if the bill is paid within 15 days, there is a discount of 3% otherwise the total amount is due within 30 days.  

In this question it is clearly given that if you pay the bill within 15 days, it means you are eligible for the discount of 3% of the bill. So we calculate the amount 3% less from the bill

Bill = $289.95 - (298.95 × 0.03)

= 289.95 - 8.6985 = $281.25