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?

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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