Question 1
Points: 1
Find the discount date and net payment date.

Invoice date: Nov 28
Terms: 1/8 - 20x


Discount date: Dec 2; net payment date: Dec 22

Discount date: Dec 25; net payment date: Jan 15

Discount date: Dec 18; net payment date: Jan 7

Discount date: Dec 26; net payment date: Jan 15

To solve this, we need to calculate the **discount date** and the **net payment date** based on the invoice date (November 28) and the terms given, which are "1/8 - 20x."

### Explanation of the terms:
- **1/8** means a 1% discount is offered if payment is made within 8 days.
- **20x** suggests the full net payment is due 20 days after the end of the month (December 31, in this case).

### Step-by-Step Solution:

1. **Discount Date:**
   The discount can be taken if payment is made within 8 days of the invoice date, which is November 28.

   \[
   \text{Discount Date} = \text{Invoice Date} + 8 \, \text{days} = \text{Nov 28} + 8 = \text{Dec 6}
   \]

2. **Net Payment Date:**
   The full payment is due 20 days after the end of the month of the invoice date. Since the invoice is from November, the end of the month is **December 31**. We add 20 days to this date.

   \[
   \text{Net Payment Date} = \text{Dec 31} + 20 \, \text{days} = \text{Jan 20}
   \]

### Final Answer:
- **Discount Date:** December 6
- **Net Payment Date:** January 20

### Would you like more details or have any questions?

Here are 5 related questions:
1. What is the significance of early payment discounts?
2. How do you calculate the due date if no terms are provided?
3. What if the terms were "2/10 - 30x"? How would the dates change?
4. How are late payment penalties calculated?
5. What happens if the payment is made after the net payment date?

**Tip:** Always double-check payment terms on invoices, as taking advantage of discounts can save you money!

Find the discount date and net payment date. Invoice date: Nov 28 Terms: 1/8 - 20x

Learn how to calculate the discount date and net payment date for an invoice dated Nov 28 with 1/8 - 20x terms. This example involves basic arithmetic, percentage discounts, and time calculations in business. Suitable for students in Grades 9-12.

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