Bus Math QRB 501 wk2 qu-1

Business Math, Ch. 8

Invoice terms - Please use words, not numbers...

Many students find this week's assignments challenging because they are not used to the terms used in this chapter.  For those students who are used to chain discounts and the terminology on invoices, though, it is usually a lot easier.  Let's work on the terminology here, but please do not use calculations in your explanation - just explain the terms in words.

Explain the difference in the following related to a purchase made on October 3:

1.  A chain discount of 30/20/10.

2.  Invoice terms of 20/10, n30.

3.  Invoice terms of 20/10, 15/15, n/30.