An invoice for $10,098 dated June 28 with terms of 3/20, 2/30, n/45 was partially paid on July 7. If the invoice balance was reduced to $5,281, what was the amount of the payment? Assume the payment was received on the date indicated.


To determine the amount of the payment, we need to understand how the terms of the invoice apply to the partial payment.

### Given Information:
- **Invoice amount:** $10,098
- **Date of the invoice:** June 28
- **Terms:** 3/20, 2/30, n/45
  - 3/20: A 3% discount if paid within 20 days.
  - 2/30: A 2% discount if paid within 30 days.
  - n/45: No discount after 45 days, payment due in full.
- **Payment date:** July 7
- **Balance after payment:** $5,281

### Step-by-Step Breakdown:

1. **Number of days between June 28 and July 7:**
   - From June 28 to July 7 is 9 days. Since the payment was made within 20 days, the buyer is eligible for the 3% discount.

2. **Discount Calculation:**
   - The discount is 3% on the part of the invoice that was paid.
   - Let the amount of the payment (before discount) be $ x $.
   - The discount is $ 0.03x $, so the amount paid is $ x - 0.03x = 0.97x $.

3. **New balance after payment:**
   - The balance was reduced to $5,281, meaning the amount left unpaid is $5,281.
   - Therefore, the amount paid with the discount is $ 10,098 - 5,281 = 4,817 $.

4. **Solve for the original amount before the discount:**
   \[
   0.97x = 4,817
   \]
   \[
   x = \frac{4,817}{0.97} = 4,965.98
   \]

Thus, the original amount of the payment before applying the discount was **$4,965.98**.

### Summary:
- **Amount of payment (before discount):** $4,965.98
- **Discount applied (3% of $4,965.98):** $148.98
- **Amount paid after discount (total payment made):** $4,817

Would you like to see further details or have any questions?

Here are 5 related questions you might find useful:
1. How is a discount percentage applied to an invoice?
2. What are common payment terms used in invoicing?
3. How do partial payments affect the calculation of discounts?
4. What happens if a payment is made after the discount period?
5. How can businesses use early payment discounts to manage cash flow?

**Tip:** Always verify the payment terms carefully to ensure that the correct discounts are applied within the allowed time!

An invoice for $10,098 dated June 28 with terms of 3/20, 2/30, n/45 was partially paid on July 7. If the invoice balance was reduced to $5,281, what was the amount of the payment? Assume the payment was received on the date indicated.

This solution explains how to calculate a partial payment for an invoice of $10,098 with terms 3/20, 2/30, n/45. The problem involves determining the payment amount before and after applying a 3% discount, suitable for students in Grades 10-12.

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