An Invoice for $3,500 Dated September 15 with Terms 2/10

question 12

Multiple Choice

An invoice for $3,500 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 20. If the company wants to reduce the outstanding balance to $2,000, how much should they pay on October 10?

• A) $1,470.00
• B) $1,477.50
• C) $1,530.00
• D) $1,522.50
• E) $1,500.00

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Definitions:

Arthur Jensen

An American psychologist known for his work in psychometrics and intelligence testing, particularly in the study of racial differences in intelligence.

Ethnic Differences

Variations in behavior, customs, norms, and practices among different ethnic groups, often influenced by cultural, geographical, and historical contexts.

IQ

A measure of a person's intelligence as indicated by an intelligence test, expressed as a number relative to a statistical norm.

Genetic Factors

The hereditary components that contribute to the development of traits, behaviors, and diseases in an organism.