Calculate the final selling price to the nearest cent and markdown percent to the nearest hundredth percent: First markdown Final markdown Original selling price $5,000 Second markdown Markup 12% 20% 10% 5% Final selling price Markdown percent :%

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Calculate the final selling price to the nearest cent and markdown percent to the nearest hundredth percent:
First markdown
Final markdown
Original selling price
$5,000
Second markdown
Markup
12%
20%
10%
5%
Final selling price
Markdown percent
:%
Transcribed Image Text:Calculate the final selling price to the nearest cent and markdown percent to the nearest hundredth percent: First markdown Final markdown Original selling price $5,000 Second markdown Markup 12% 20% 10% 5% Final selling price Markdown percent :%
Expert Solution
Step 1

Final selling price = original selling price ×(1-first markdown) ×(1-second markdown) ×(1+markup) ×(1-final mark down) 

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