Explanation Given Information: The amount of invoice is $ 2 , 421.00 , 4 % of cash discount is offered when the invoice is paid within 10 days and n of cash discount is offered if the invoice is paid within 30 days. Formula used: Follow the steps to compute the cash discount and net amount due. Step 1 : The cash discount is computed by multiplying the net price by the cash discount rate. Cash discount = Net price × Cash discount rate Step 2 : The net amount due is computed by subtracting cash discount from the net price. Net amount due = Net price − Cash discount Calculation: Consider that the amount of invoice is $ 2 , 421.00 , 4 % of cash discount is offered when the invoice is paid within 10 days and n of cash discount is offered if the invoice is paid within 30 days. Compute the cash discount by substituting the net price to $ 2 , 421

Contemporary Mathematics for Business and Consumers

7th Edition

ISBN: 9781285189758

Author: Robert Brechner, George Bergeman

Publisher: Cengage Learning

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Chapter 7.IV, Problem 3RE

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To calculate: The cash discount and net amount due if amount of invoice is $2,421.00, 4% of cash discount is offered when the invoice is paid within 10 days and n of cash discount is offered if the invoice is paid within 30 days.

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Chapter 7.IV, Problem 2RE

Chapter 7.IV, Problem 4RE

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Chapter 7 Solutions

Contemporary Mathematics for Business and Consumers

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 cash discount and net amount due if amount of invoice is $ 2 , 421.00 , 4 % of cash discount is offered when the invoice is paid within 10 days and n of cash discount is offered if the invoice is paid within 30 days.

Solution Summary: The author calculates the cash discount and net amount due if the invoice is 2,421.00.

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To calculate: The cash discount and net amount due if amount of invoice is $2,421.00, 4% of cash discount is offered when the invoice is paid within 10 days and n of cash discount is offered if the invoice is paid within 30 days.

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Chapter 7 Solutions