Problem #1. While window shopping at you local mall you see the following advertisement. "Really nice noise cancelling on-ear headphones are now on sale! 15.9% off! Only $149.99!" (a) What is the original selling price of the headphones on sale if the $149.99 sale price represents 15.9% off? (b) How much did the store pay for the headphones if the initial markup was 125% based on cost? (c) What is the percent markup based on selling price? (d) If next month the headphones are going to be on sale for $122.59, what is the markdown percent from the original price?
Problem #1. While window shopping at you local mall you see the following advertisement. "Really nice noise cancelling on-ear headphones are now on sale! 15.9% off! Only $149.99!"
(a) What is the original selling price of the headphones on sale if the $149.99 sale price represents 15.9% off?
(b) How much did the store pay for the headphones if the initial markup was 125% based on cost?
(c) What is the percent markup based on selling price?
(d) If next month the headphones are going to be on sale for $122.59, what is the markdown percent from the original price?
Problem #2. On March 3, your cousin borrowed $15,000 from her favorite bank at 7.4% for 90 days. The bank uses the ordinary interest method.
(a) What is the amount of interest on the loan?
(b) What is the maturity value of the loan?
(c) What is the maturity date of the loan.
(d) If your cousin decides to make a $5,000 partial payment on day 30 what is the new maturity value of the loan after the partial payment?
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