Caleb received an invoice for $5,000 that had payment terms of 4/15 n/30. He made a partial payment of $2,500 during the discount period. a. Calculate the amount credited. Round to the nearest cent b. Calculate the balance on the invoice after the partial payment was made.

Q: A homeowner has a mortgage payment of $996.10, an annual property tax bill of $590, and an annual…

A:

Q: Consider a student loan of $12,500 at a fixed APR of 6% for 25 years. a. Calculate the monthly…

A: (a) Obtain the monthly payment as follows.

Q: Your friend is going to borrow $150,000 using a 30 year mortgage with a 4.25% APR. Which of the…

A: Monthly mortage payment formula for borrowing amount (M), years of mortage (t) and rate of interest…

Q: Mr. Dan Dapper received a statement from his clothing store showing a finance charge of $2.30 on a…

A: Given Information - Finance charge on previous balance = $2.30 Previous Balance = $100 We have to…

Q: Patricia and Joe Payne are divorced. The divorce settlement stipulated that Joe pay $540 a month for…

A:

Q: Mr. Dan Dapper received a statement from his clothing store showing a finance charge of $2.10 on a…

A: Solution is given below:-

Q: Find the monthly payment for the loan. Used car financing for $600,000 for 25 months at 11.75%.…

A: here we have to find the monthly payment for the loan. PV (present value of car) = $600,000 n(number…

Q: Susan Company received an invoice for $77,000.00 that had payment terms of 2/5 n/30. If it made a…

A:

Q: Paul Peters received a statement from the ABC Department Store showing a previous balance of $90. If…

A: Interest = (Rate of interest × Amount× Time)/100 Amount = $90 ROI = 2.5% Time = 1 Month

Q: Leona Jefferson purchased a home and obtained a 25-year loan of $438,000 at an annual interest rate…

A: Given that Leona Jefferson purchased a home and obtained a 25-year loan of $438,000 at an annual…

Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

Q: Angela has just purchased a home for $159,000. A mortgage company has approved her loan application…

A:

Q: Patrick received an invoice for $4,000 that had payment terms of 3/15 n/30. She made a partial…

A: Step 1:a)Given information: Invoice amount: $4,000Partial payment made during the discount period:…

Q: Manuel purchases a house and gets a 30-year mortgage for $175,000 at 4% APR. In addition to the…

A:

Q: Justin received an invoice for $4,000 that had payment terms of 2/10 n/30. He made a partial payment…

A:

Q: Scarlet Company received an invoice for $77,000.00 that had payment terms of 2/5 n/30. If it made a…

A:

Q: Marks. On Feb. 26, George gave Nita a time extension on her bill by accepting a $4,800, 6%, 155-day…

A:

Q: Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,900. Her…

A: The amount Anny need to pay with 60 months is 285·60=$17100 .

Q: For a home mortgage of $150,000 at 6% interest for 30 years, find the followin a. Monthly payment.…

A: Given principal (p)= $150,000 Rate of interest (r)= 6%  Time in years (t)= 30 30 years = 30 × 12=…

Q: Joe I married and claims three allowances. The gross earnings on his last bi-weekly check were…

A: Gross earnings = $1895

Q: For a three year bond of $2,400 at a simple interest rate of 11% per year, find the semiannual…

A: The semiannual interest on a bond is calculated using the formula:  Semiannual interest=Face value…