Explanation Given Information: The list price is $ 4.60 and trade discount rate is 12 3 4 % . Formula used: Follow the steps to compute the net price using the net price factor: Step 1 : The net price factor is computed by subtracting the trade discount rate from 100 % . Net Price Factor = 100 % − Trade discount rate Step 2 : The net price is computed by multiplying the list price with the net price factor. Net Price = List Price × Net Price Factor Calculation: Consider that the list price is $ 4.60 and trade discount rate is 12 3 4 % . Simplify the trade discount rate as follows: 12 3 4 % = 51 4 % = 12

Contemporary Mathematics for Business & Consumers - With LMS CengageNOW

8th Edition

ISBN: 9781337125468

Author: Brechner

Publisher: Cengage

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Chapter 7.II, Problem 13RE

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To calculate: The net price factor and net price if list price is $4.60 and trade discount rate is 1234%. Round the answer to the nearest cent.

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Chapter 7.II, Problem 12RE

Chapter 7.II, Problem 14RE

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Chapter 7 Solutions

Contemporary Mathematics for Business & Consumers - With LMS CengageNOW

Ch. 7.I - From the following FotoFair invoice, identify the...Ch. 7.I - Prob. 2TIE Ch. 7.I - What word is represented by each of the following...Ch. 7.I - Prob. 2RE Ch. 7.I - What word is represented by each of the following...Ch. 7.I - Prob. 4RE Ch. 7.I - Prob. 5RE Ch. 7.I - Prob. 6RE Ch. 7.I - Prob. 7RE Ch. 7.I - Prob. 8RE

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The net price factor and net price if list price is $ 4.60 and trade discount rate is 12 3 4 % . Round the answer to the nearest cent.

Solution Summary: The author calculates the net price factor by subtracting the trade discount rate from 100%.

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To calculate: The net price factor and net price if list price is $4.60 and trade discount rate is 1234%. Round the answer to the nearest cent.

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Chapter 7 Solutions