Explanation Given Information: The amount of invoice is $ 6 , 010.20 , 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 $ 6 , 010.20 , 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 $ 6 , 010

Contemporary Mathematics for Business & Consumers

8th Edition

ISBN: 9781305585447

Author: Robert Brechner, Geroge Bergeman

Publisher: Cengage Learning

See similar textbooks

Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 …

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experime…

Videos

Question

Chapter 7.IV, Problem 4RE

To determine

To calculate: The cash discount and net amount due if amount of invoice is $6,010.20, 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.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 7.IV, Problem 3RE

Chapter 7.IV, Problem 5RE

Students have asked these similar questions

Robbie Bearing Word Problems Angles name: Jocelyn date: 1/18 8K 2. A Delta airplane and an SouthWest airplane take off from an airport at the same time. The bearing from the airport to the Delta plane is 23° and the bearing to the SouthWest plane is 152°. Two hours later the Delta plane is 1,103 miles from the airport and the SouthWest plane is 1,156 miles from the airport. What is the distance between the two planes? What is the bearing from the Delta plane to the SouthWest plane? What is the bearing to the Delta plane from the SouthWest plane? Delta y SW Angles ThreeFourthsMe MATH 2

Find the derivative of the function. m(t) = -4t (6t7 - 1)6

Find the derivative of the function. y= (8x²-6x²+3)4

Chapter 7 Solutions

Contemporary Mathematics for Business & 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

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.

The cash discount and net amount due if amount of invoice is $ 6 , 010.20 , 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 6,010.20.

Concept explainers

Videos

To calculate: The cash discount and net amount due if amount of invoice is $6,010.20, 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.

Want to see the full answer?

Chapter 7 Solutions