A supplier gives MMF terms of 2/10, net 30. Which statement correctly
interprets these terms?

Question

Answer

MMF receives a 2% discount if it pays within 10 days; otherwise the full amount is due within 30 days

Answer

MMF may pay the discounted amount at any point within 30 days

Answer

MMF receives a 10% discount if it pays within 2 days; otherwise the full amount is due within 30 days

Answer

MMF must pay 2% interest every 10 days

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