Calculate the credit given for the partial payment and the net amount due on the invoice (in $). (Round your answers to the nearest cent.)
Amount of
Invoice	Terms of
Sale	Partial
Payment	Credit for
Partial Payment	Net
Amount Due
$5,998.20	4/15, n/60	$2,500	$
$

We have an invoice for $5,998.20 with payment terms of 4/15, n/60, and a partial payment of $2,500.

### Step 1: Calculate the Discount Rate
The terms "4/15, n/60" mean that if payment is made within 15 days, a 4% discount is applied. After 15 days, the net amount is due in 60 days with no discount.

- The discount is 4% of the invoice amount.

### Step 2: Apply the Partial Payment to the Invoice
First, let's determine how much credit is given for the partial payment of $2,500 if it qualifies for the discount.

- The discount rate is 4%, so the amount of credit for the partial payment is:

\[
\text{Credit for Partial Payment} = \text{Partial Payment} \times (1 + \text{Discount Rate})
\]

\[
\text{Credit for Partial Payment} = 2500 \times (1 + 0.04) = 2500 \times 1.04 = 2600
\]

So, the credit given for the partial payment is **$2,600**.

### Step 3: Calculate the Net Amount Due
Now, subtract the credit from the original invoice amount to find the net amount due.

\[
\text{Net Amount Due} = \text{Original Invoice Amount} - \text{Credit for Partial Payment}
\]

\[
\text{Net Amount Due} = 5998.20 - 2600 = 3398.20
\]

Thus, the **net amount due is $3,398.20**.

### Final Answer:
- **Credit for Partial Payment**: $2,600
- **Net Amount Due**: $3,398.20

Would you like any further details or explanations?

---

Here are 5 related questions:
1. How would the terms of sale change if the discount were 2/10, n/30?
2. What happens if the payment is made after 15 days but before 60 days?
3. How do you calculate the interest if the payment is late?
4. How is the partial payment applied if no discount is taken?
5. How do you handle multiple partial payments on an invoice?

**Tip**: When calculating discounts, always apply the discount to the payment before subtracting from the total!

Calculate the credit given for the partial payment and the net amount due on the invoice (in $). (Round your answers to the nearest cent.) Amount of Invoice: $5,998.20, Terms of Sale: 4/15, n/60, Partial Payment: $2,500

Learn how to calculate the credit given for a $2,500 partial payment on an invoice of $5,998.20 with 4/15, n/60 terms. Step-by-step, we calculate the discount, credit, and the net amount due. Suitable for high school students.

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