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Answer :
Final answer:
To settle the invoice of $45,780 by March 22 and avail a 3% early payment discount, the correct payment amount is $44,406.60, hence the correct answer is a) $44.407 .
Explanation:
The question involves calculating the payment amount for an invoice with a discount for early payment. The invoice amount is $45,780, and the terms are 3/15, n/90, which means a 3% discount if paid within 15 days. March 10 is the invoice date; therefore, March 22 is within the discount period. To find the payment amount with the discount:
Calculate the discount amount: $45,780 × 0.03 = $1,373.40.
Subtract the discount from the total invoice amount: $45,780 - $1,373.40 = $44,406.60.
Therefore, a payment of $44,406.60 on March 22 would be enough to settle the debt, rounding to the nearest cent.
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