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A homeowner hires a contractor to renovate her kitchen for $ 3 0 , 0 0 0 with a down payment of $ 1 0
A homeowner hires a contractor to renovate her kitchen for $ with a down payment of $ paid during the renovation process and the remaining $ paid upon completion of the kitchen. However, when the kitchen is complete, the homeowner finds the work shoddy and refuses to pay. To settle the dispute, the parties agree that the homeowner will only pay an additional $ as full and final payment for the work, rather than the original $ The homeowner then pays the $ as agreed.
The homeowner's payment of $ is called which of the following?
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