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merchandising with finance

Business & Finance
Tutor: None Selected Time limit: 1 Day

A payment of $500 on an invoice for $887 reduced the balance owed to $378.09.
Sep 23rd, 2014

887 - 500/(1-d) = 378.09

887-378.09 = 500/(1-d)

508.91 = 500/(1-d)

(1-d) =500/508.91 =0.9825

d= 1-.9825 =0.0175

d= 1.75%

Discount allowed is 1.75%

Sep 23rd, 2014

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Sep 23rd, 2014
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Sep 23rd, 2014
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