Question: You place an order for 2,500 units of Good X at a unit price of $62. The supplier offers terms of 2/25, net 35.
a. How long do you have to pay before the account is overdue?
Number of days days
If you take the full period, how much should you remit? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Remittance $
b. What is the discount being offered? (Enter your answer as a percent.)
Discount rate %
How quickly must you pay to get the discount?
Number of days days
If you do take the discount, how much should you remit? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Remittance $
c. If you don't take the discount, how much interest are you paying implicitly? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Implicit interest $
How many days' credit are you receiving? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Days' credit days