To find the amount owed by the business, we proceed as follows:
-Step 1: We multiply the invoice amount by the percentage discount
[tex]\begin{gathered} \text{Invoice amount}\times percentage\text{ discount} \\ 12,856\times\frac{5}{100} \\ \Rightarrow642.8 \end{gathered}[/tex]Thus, $642.8
- Step 2: We then subtract the value obtained in the step above from the invoice amount
[tex]\begin{gathered} \text{Invoice amount - 642.8} \\ 12,856-642.8 \\ \Rightarrow12,213.2 \end{gathered}[/tex]Therefore, the business owed $12,213.20