Your bill from acme is marked 3 x 12 net 30 the amount of the bill is $98.65 if you pay the bill within 12 days how much should you tender

If you will pay within 12 days, you will be able to avail of the discount given by Acme based on the bill given to you. The mark “3 x 12 net 30” means that you will have 3% if you can pay within 12 days and maturity of the bill will be within 30 days. Since the amount of bill is $98.65, you need to compute the amount of discount by multiplying the discount rate to the face amount of bill ($98.65 x 3% = $2.96). To compute for the amount to be tendered, you have to deduct the discount to the face amount ($98.65 - $2.96 = $95.69).

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