An Invoice for $7,000 Dated September 15 with Terms 2/10

question 64

Multiple Choice

An invoice for $7,000 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 25. A payment is sent on October 10 for $3,000. What is the outstanding balance?

• A) $3,940.00
• B) $3,955.00
• C) $3,938.78
• D) $4,000.00
• E) $3,954.31

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Definitions:

Reward Learning

A type of learning in which an individual's behavior is motivated and shaped by the anticipation of rewards.

Little Albert

An experiment in classical conditioning where a baby was taught to fear a white rat by pairing it with loud noises.

Trained

Having acquired specific skills or knowledge through instruction or practice.

Self-actualization

The realization or fulfilment of one's talents and potentialities, considered as a drive or need present in everyone.