Answer:
The new balance is $675.8
Step-by-step explanation:
Solution
Given that
The total amount of loan = $820.
The terms were = 3/10, n/60
Within 10 days, the buyer sent in a payment of =$140
What is the new balance =?
Now,
3/10 = if the amount is paid in 10 days, a discount of is included
n/60 = This means that all amount should be paid within 60 days
Thus,
$140 for 3/10 as this is paid within 10 days
140 *3% = 140 * 3/100
we get
=$4.2 of discount
Then,
The balance amount becomes $ 820 - 140 -4.2
=$675.8
