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This question involves calculating payment amounts based on the provided invoice terms. Let's break it down step-by-step for both invoices.

### Invoice 1
- **Invoice Amount**: $778.56
- **Credit Terms**: 3.25/10, n/20 (This means 3.25% discount if paid within 10 days, otherwise full amount due in 20 days).
- **Invoice Date**: January 2
- **Payment Date**: January 11

Since the payment is made within 10 days, the 3.25% discount applies. 

1. **Discount** = 3.25% of $778.56 = $ 778.56 \times 0.0325 = 25.29 $

2. **Payment** = Invoice Amount - Discount = $ 778.56 - 25.29 = 753.27 $

### Invoice 2
- **Invoice Amount**: $6,416.71
- **Credit Terms**: 2.75/15, n/25 (This means 2.75% discount if paid within 15 days, otherwise full amount due in 25 days).
- **Invoice Date**: June 27
- **Payment Date**: July 13

Since the payment is made within 15 days, the 2.75% discount applies.

1. **Discount** = 2.75% of $6,416.71 = $ 6416.71 \times 0.0275 = 176.46 $

2. **Payment** = Invoice Amount - Discount = $ 6416.71 - 176.46 = 6,240.25 $

### Summary of Payments
- For the first invoice: $753.27
- For the second invoice: $6,240.25

Let me know if you'd like more details or further clarifications!

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**Next questions:**
1. What if the payments were made after the discount period?
2. How do credit terms differ between different companies?
3. Why are companies incentivized to offer discounts for early payments?
4. Can the credit terms offered affect a company's cash flow?
5. How is the effective annual interest rate calculated when early payment discounts are involved?

**Tip**: Always double-check the number of days between invoice and payment dates to determine if the discount applies!

Apex Consulting recently received two invoices, which were subsequently paid. The amounts, terms, and payment dates are provided in the table. Based on this information, determine the amounts of the payments that would have been made to settle these invoices to the nearest cent.

Learn how to calculate the payment amounts for two invoices with specific credit terms. This problem involves calculating discounts for early payment and determining the final amount owed based on the invoice date and payment date.

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