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22 July, 18:12

Ken Company purchased $7,000 of merchandise from Marilyn Company with terms of 4/10, n/45. What percent discount will Ken Company get if it pays within the allowed discount period? Answer % If Ken Company fails to pay within the discount period, how many days does Ken Company have from the date of purchase before the payment is considered to be late?

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  1. 22 July, 18:47
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    4% and 45 days

    Explanation:

    Given that

    Purchase value of merchandise = $7,000

    Discount made within 10 days = 4%

    Number of given days for payment = 45 days

    So

    In the first case, for eligible to discount, the discount rate is 4%

    And, the prescribed time limit for paying the amount is 45 days which is already mentioned in the question

    After 45 days, the payment is late.
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