Answer:
amount of the check = $3430
Explanation:
given data
sells merchandise account = $5000
credit terms of 2/10, n/30
Company returns = $1500
to find out
amount of the check
solution
we will find here amount of the check that is express here as
amount of the check = (sells merchandise account - Company returns) × (100 - n ) .......................1
put here value in equation 1 we get
amount of the check = (5000 - 1500 ) × (100% - 2%)
amount of the check = (3500 ) × (98%)
amount of the check = $3430
No, it is not a valid acceptance of your offer, because it will depend on whether if he is just inquiring (most likely for another person), or if you are willing to lower the price in the first place.
hope this helps
Answer: 2.5186 percent
Explanation:
First you have to understand that the payment includes Payment Interst plus Debt Payment and that the Payment Balance is the Loan Amount minus the Debt Payment; with this information you calculate the Loan Amount that is 260,500.00 and calculate the rate per month (use the interest debt / Loan Amount) which results in 0.2075 percent (TEM). To calculate the annual interest rate you use the formula to convert to TEA which is ((1+TEM)^12)-1).