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Math Help - Cash Discounts ( N= L (1-d )

  1. #1
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    Cash Discounts ( N= L (1-d )

    Help needed on this question

    Invoice Amount = 3765.25

    Credit Terms = 1 1/3 / 15 , n/45

    Payment = ?

    Amount Credited

    Balance Owed = 2402.28
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  2. #2
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    Why not use the formula you provided?

    Please explain credit terms in English. Is that 1/3 down, 1/3 in 15 days, and the rest in 45 days? Not all notation is widely known.
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