An invoice for $75.20 has terms of 3/10, 1/30, n/60. If you make payment 25 days after the invoice date, what amount should you pay?

Q: One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a…

A: The time value of money is a concept in finance that recognizes the idea that a sum of money has…

Q: Suppose that on January 1 you have a balance of $2600 on a credit card whose APR is 13%, which you…

A: Monthly payment refers to an amount that is paid every month for the repayment of loan amount…

Q: What amount will reduce the amount due on an invoice of $2072.19 by $1220.41 if the terms of the…

A: A discount, whether expressed in terms of money or as a percentage, is a reduction in the regular…

Q: Suppose you have a credit card with a balance of $3295.89 that charges 19.85% APR on unpaid…

A: Credit cards are used very often now days and credit cards are used for short term credits.Balance…

Q: For a S 1,314 deposit, a bank offers two choices: Account "A" pays interest at an APR of 8.3%.…

A: Variables in the question:Initial deposit =$1314Bank offers two choices:Account A pays interest at…

Q: how long will it take for teh account to be paid off?

A: Formula for loan amortization A= [i*P*(1+i)^n]/[(1+i)^n-1] Formula for calculating number of…

Q: hould an organization take a discount of 1.5/10 N/30 on a $9,000 invoice or simply pay the bill when…

A: solution concept credit term 1.5/10 N/30            It means that if the payment is made within 10…

Q: You have asked Raider Bank for a $20,000 signature loan, where you will be charged 1% per month…

A: It seems there might be a mistake or some missing information in this question. Let me clarify a few…

Q: A credit card bill shows a balance due of $1200 with a minimum payment of $24 and a monthly interest…

A: Calculate the effective annual rate (EAR) as follows:

Q: You owe $1,032.56 on a credit card with an 11.25% APR. The minimum due is $150.00. What is the…

A: Interest amount refers to the minimum cost to be charged over the investment made by the investors…

Q: A payday lender lends money on the following terms: “If I give you $100 today, you will write me a…

A: An interest method in which current interest is computed by multiplying the interest rate by the sum…

Q: You charged $3,172 on a credit card. If you pay the minimum payment per month of $46.69, you will…

A: Charge of credit card = 3172 Minimum monthly payment = 46.69 N = 96 payments

Q: Using the daily balance method of calculating interest, how much interest will you owe on a $500…

A: Given,  Credit card balance = $500 interest  = 20% = 20/100 = 0.2 time = 3 weeks  = 21/365

Q: Suppose that on January 1 you have a balance of $2500 on a credit card whose APR is 13%, which you…

A: Compound = monthly = 12 Present Value = pv = $2500 Interest rate = r = 13/12% Time = t = 1 * 12 = 12

Q: An invoice dated January 25 with terms 2/10 -20 X. Find the final discount rate and the next payment…

A: The invoice is dated 25th January. The payment terms are 2/10 -20 X. Which are to be read as 2%…

Q: Should an organization take a discount of 1.5/10 N/30 on a $9,000 invoice or simply pay the bill…

A: Discount is the reduction in the invoice amount. It is computed by multiplying the invoice amount…

Q: CapitalOne and other credit card issuers must by law print the Annual Percentage Rate (APR) on their…

A: Annual rate = 21.24%Compounding frequency = Monthly

Q: How much interest will you have to pay for a credit card balance of $1,007 that is 1 month overdue,…

A: Interest refers to an amount that is to be charged on the borrowed amount paid by the borrower to…

Q: Suppose that on January 1 you have a balance of $3800 on a credit card whose APR is 13%, which you…

A: Loan balance (P) = $3800Monthly interest rate (r) = 0.0108333333333333 (i.e. 0.13 / 12)Number of…

Q: Suppose that on January 1 you have a balance of $5300 on a credit card whose APR is 13%, which you…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: You get a new credit card from your bank. The document that comes with the card informs you that the…

A: The effective annual rate refers to the measure of the annual rate that is paid/received after the…

Q: What does​ "2/10" mean, with respect to​ "credit terms of​ 2/10, n/30"?         A. A discount of 2…

A: Given, credit terms = 2/10, n/30 n/30 indicates that the payment should be made within 30 days from…