Help needed on this question
Invoice Amount = 3765.25
Credit Terms = 1 1/3 / 15 , n/45
Payment = ?
Balance Owed = 2402.28
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Why not use the formula you provided?
Please explain credit terms in English. Is that 1/3 down, 1/3 in 15 days, and the rest in 45 days? Not all notation is widely known.
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