of $1000 on October 31 and $800 on November 20. What amount will pay off the balance on December 8?

Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
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16. Northern Outfitters' invoice to Rico's Menswear for $2463.80 was dated October 22 with terms
2/10, n/30. Late payments are charged a 1% penalty on the overdue balance. Rico made payments
of $1000 on October 31 and $800 on November 20. What amount will pay off the balance on
December 8?
Transcribed Image Text:16. Northern Outfitters' invoice to Rico's Menswear for $2463.80 was dated October 22 with terms 2/10, n/30. Late payments are charged a 1% penalty on the overdue balance. Rico made payments of $1000 on October 31 and $800 on November 20. What amount will pay off the balance on December 8?
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