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Supplier to receive that discount

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You've opened a clothing store, and made a deal with a hat manufacturer to supply you with hats to sell along with your clothing. The first shipment of hats will cost you 5,000. When the hats are delivered, the supplier gives you invoice that reads "5/15n 60" on the top. How much of a discount is the supplier giving you in dollars? How long do you have to pay the supplier to receive that discount? If you don't get the discount, how long do you have to pay 5,000?

Reference no: EM132093539

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