Business math calculating invoice

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18.  Determine the credit given for partial payment for cash discount on the invoice. Round your answer to the nearest cent. Place comma and dollar sign in answer where appropriate.

Invoice AmountTermsPartial PaymentBalance DueCash Discount
$1,987.003/10, n/45$1,400.00$543.70

May 1st, 2015

The terms offered by the seller usually depend on the trade custom. Some variations of the cash discount terms, among others, may be "3/10, n/45" (3% discount for the payment within 10 days and the full amount to be paid within 30 days) or "n/10 EOM" (the invoice is due and payable 10 days after the end of the month in which the sale occurred).

Answer= $44

May 1st, 2015

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