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A retailer purchases some merchandise with an invoice price of $19,500 and terms of sale of 5/15, n/45. What is the net amount due (in $) on the order if a partial payment of $10,800 is made on the 15th day? (Round your answer to the nearest cent.)
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Answer:

$7,725.

Step-by-step explanation:

To calculate the net amount due after a partial payment is made, we can follow these steps:

1. Calculate the discount available:

Discount = Invoice Price * Discount Rate

Discount = $19,500 * 5% = $975

2. Calculate the amount payable after the discount is taken off:

Amount Payable = Invoice Price - Discount

Amount Payable = $19,500 - $975 = $18,525

3. Calculate the net amount due after the partial payment is made:

Net Amount Due = Amount Payable - Partial Payment

Net Amount Due = $18,525 - $10,800 = $7,725

Therefore, the net amount due after the partial payment is made on the 15th day is $7,725.

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