The Bedford Springs has signed a contract with MJB Service Company that requires

Question

The Bedford Springs has signed a contract with MJB Service Company that requires the following payment schedule: 40% to be paid 12/01/16 35% to be paid 01/01/17 15% to be paid 02/01/17 10% to be paid 03/01/17 If the payment made on 12/01/16 was $3,000, how much should the payment on 02/01/17 be? The Bedford Springs has signed a contract with MJB Service Company that requires the following payment schedule: 40% to be paid 12/01/16 35% to be paid 01/01/17 15% to be paid 02/01/17 10% to be paid 03/01/17 If the payment made on 12/01/16 was $3,000, how much should the payment on 02/01/17 be?

Explanation / Answer

If the payment made on 12/01/16 was $3,000, how much should the payment on 02/01/17 be?

This $ 3000 represents 40 % , therefore, 100 % = 3000 / 0.40 = $ 7500

So, the  payment on 02/01/17 would be = 7500 * 15 % = $ 1125

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