Question

a man gets an invoice for $460 with terms 2/10, 1/15, n28 ow much would he pay 25 after the invoice date? help a little confused?

Answer 1

I know N means the net

Answer 2

I also figured out 2 is the percent he would get 2% if paid by the 10 and all of it total is due by the 28 but I don't get what does 1/15 does it mean that for every day its late he will get 15% added to it?

Answer 3

To answer your question, the 1/15 means that he would get a 1% discount if paid by the 15. And all is due by 28 days, no discount.