SOLUTION: My customer pays a partial payment on an invoice. The state tax is 5% on the total invoice. I can estimate, and eventually find what the principle should be on the partial payme
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: My customer pays a partial payment on an invoice. The state tax is 5% on the total invoice. I can estimate, and eventually find what the principle should be on the partial payme
Log On
Question 618689: My customer pays a partial payment on an invoice. The state tax is 5% on the total invoice. I can estimate, and eventually find what the principle should be on the partial payment, but there must be a formula to do this.
Any help?
Ralph Answer by ewatrrr(24785) (Show Source):
Hi,
My customer pays a partial payment on an invoice. The state tax is 5% on the total invoice. find the principle on the partial payment...
Dividing the partial payment by 1.05 will generate that principle
Note: P + .05P = 1.05P = Total
