5._______ Payments are usually made in 30 to 60 daysfrom the invoice date.
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5._______ Payments are usually made in 30 to 60 days
from the invoice date.
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- An invoice dated January 25 with terms 2/10 -20 X. Find the final discount rate and the next payment date. The net payment date is 20 days after the final discount date. Assume it is not a leap year final dicount- net payment-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?From the payment terms, 2/15, n/30, the discount period is ___________. a. 17 days b. 15 days c. 30 days d. 2 days
- What does "2/10" mean, with respect to "credit terms of 2/10, n/30"? A. A discount of 2 percent will be allowed if the invoice is paid within 10 days of the invoice date. B. Interest of 2 percent will be charged if the invoice is paid after 10 days from the date on the invoice. C. A discount of 10 percent will be allowed if the invoice is paid within two days of the invoice date. D. Interest of 10 percent will be charged if invoice is paid after two days.Saved If an invoice indicates that interest at the rate of 0.69% per month will be charged on overdue amounts, what effective rate of interest will be charged? (Round your final answer to 2 declmal places.) Effective rate Next > < Prev 20 of 23 connect18.Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to the next highest day when necessary. Principal Rate (%) Time Interest $7,100 10.4 days $225 Days?
- C. Complete the following table: Value of the Deposit Mathematical Expression Used to Deposit Deposit Amount How long it will be in the account After 5 Years Find this Value 1 $350 59 months 469.74 350(1.005)" $350 58 months 350(1.005)* 467.41 $350 57 months 350(1.005)*7 3 465.08 2 months 350(1.005) 58 $350 354.50 1 month 350(1.005)' 59 $350 351.75 60 $350 O month 350 350(1.005)° d. We could find the value of the account after 5 years by adding all the values in the 4th column (if we actually extended the entire table. Why would we not want to do this? e. Use the last column to find the value of the account after 5 years. f. How much interest did Jack earn from the bank in these 5 years? g. If Jack kept saving what would the value of his account be after 10 years ? How can we adjust our answer to question e to answer this question? ..13. Trade credit terms of 2/10, net 90 are available. Calculate the cost of trade credit when payment is made on the net due date using the APR. Use a 360 day year.11.A credit card holder purchased an item P6,000 on credit with a monthly interest rate of 3% and 5% minimum monthly payment rate. After 6 months, how much is the remaining balance?
- 14. Trade credit terms of 2/10, net 90 are available. Calculate the cost of trade credit when payment is made on the net due date using the EAR (also known as APY). Use a 360 day year.A customer takes out a loan of $150,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 8%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $36,000 B. $6,000 C. $2,383 D. $12,600How many days in a grace period for most credit cards A. 20-30 DAYS B. 30-60 DAYS C.100 DAYS D.10-15 DAYS