Chapter 7, Problem 13CR

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

Chapter
Section

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

To calculate the credit given for a partial payment, we divide the amount of the partial payment by 100% ______the cash discount rate. (7-10)

To determine

To fill: The blank provided for the statement, ‘To calculate the credit given for a partial payment, we divide the amount of the partial payment by 100% _____ the cash discount rate’.

Explanation

The formula for partial payment due is computed by dividing the partial payment by complement of the cash discount rate.

Partial payment due=Partial payment100%Cash discount

Consider an example,

Suppose that partial payment is $20,000 and cash discount is 4%. Compute the partial payment due by substituting the partial payment equals to$20,000 and cash discount rate equals to 4%

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

In Exercises 3-11, find the derivative of the function. f(x)=12x

Calculus: An Applied Approach (MindTap Course List)

Find y if xy = yx.

Single Variable Calculus: Early Transcendentals

True or False: is a convergent series.

Study Guide for Stewart's Multivariable Calculus, 8th

(f(x)g(x)) = f(x)g(x).

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th