Calculating Net Price of Invoice dated March 5; 12%, 7%, 2.5%; 10/10, 6/20, n/30, EOM

[htmlcss]

i'm having issues with the following question and cannot find any resources to help me solve it:

You process an order for goods worth a list price of $525,000. The invoice is dated March 5, with trade discounts of 12%, 7%, and 2.5%. The invoice has terms of 10/10, 6/20, n/30, EOM. Partial Payments are accepted.

a. What is the net price ti the customer?

b. If a payment of $150,000 is made on March 21, what is the balance left on the invoice?

 

[tkhunny]

You'll have to give it a crack.

What is a "Trade Discount"? How does it work? Can one even have 3 different trade discounts? How does that work?

What does 10/10, 6/20 mean? How does that work? Does everyone know that n/30 means that we better pay up?!

In which time period is the $150,000 paid? How does that work with the Early-Pay discount?