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April 21, 2014

Homework Help: Math!

Posted by Thara! on Thursday, March 11, 2010 at 7:48pm.

A store receive an invoice for $1773.75 dated January 23 with terms 3/10, 1.5/25, n/45.

a) What is the balance after a payment of $1250 on Februray 2?

1250/(1-.03)=1288.66
1288.66-1773.75=485.09

Answer for (a)$485.09


b) What additional payment on February 17 will settle the invoice?

1250/(1-.015)=1269.04
1269.04 + 485.09=1754.13
1754.13-1773.75=19.62

Answer for (b)$19.62

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