# The Artistâ€™s Palette - 71098

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• Posted on: Tue 05 Aug, 2014
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1. The Artist’s Palette recognizes that students may purchase supplies at the beginning of the term to cover all of their art class needs. Because this could represent a fairly substantial outlay,  the Artist’s Palette offers discounts to those students who pay sooner than required. Assume that if students buy more than \$250 of art supplies in one visit, they may put it on a student account with terms of 2/10, n/30. If a student purchases \$250 of supplies on September 16, what amount is due by September 26? How much would the student save by paying early?

2. Assume that if students buy more than \$250 of art supplies in one visit, they may put the charge on a student account with terms of 2/10 EOM. If a student makes the purchase on September 16, on what day does the 2% discount expire? If the purchase is made on September 26, on what day does the 2% discount expire? If you were an art student, which method would you prefer: 2/10, n/30, or 2/10 EOM?

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