Explanation Given Information: The amount of invoice is $ 9 , 121.44 , 3 1 2 % of cash discount is offered when the invoice is paid within 15 days and n of cash discount is offered if the invoice is paid within 60 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 $ 9 , 121.44 , 3 1 2 % of cash discount is offered when the invoice is paid within 15 days and n of cash discount is offered if the invoice is paid within 60 days. Compute the cash discount by substituting the net price to $ 9 , 121

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 5RE

To determine

To calculate: The cash discount and net amount due if amount of invoice is $9,121.44, 312% of cash discount is offered when the invoice is paid within 15 days and n of cash discount is offered if the invoice is paid within 60 days.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 7.IV, Problem 4RE

Chapter 7.IV, Problem 6RE

Students have asked these similar questions

The following are suggested designs for group sequential studies. Using PROCSEQDESIGN, provide the following for the design O’Brien Fleming and Pocock.• The critical boundary values for each analysis of the data• The expected sample sizes at each interim analysisAssume the standardized Z score method for calculating boundaries.Investigators are evaluating the success rate of a novel drug for treating a certain type ofbacterial wound infection. Since no existing treatment exists, they have planned a one-armstudy. They wish to test whether the success rate of the drug is better than 50%, whichthey have defined as the null success rate. Preliminary testing has estimated the successrate of the drug at 55%. The investigators are eager to get the drug into production andwould like to plan for 9 interim analyses (10 analyzes in total) of the data. Assume thesignificance level is 5% and power is 90%.Besides, draw a combined boundary plot (OBF, POC, and HP)

4. Solve the system of equations and express your solution using vectors. 2x1 +5x2+x3 + 3x4 = 9 -x2+x3 + x4 = 1 -x1-6x2+3x3 + 2x4 = -1

3. Simplify the matrix expression A(A-B) - (A+B)B-2(A - B)2 + (A + B) 2

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 $ 9 , 121.44 , 3 1 2 % of cash discount is offered when the invoice is paid within 15 days and n of cash discount is offered if the invoice is paid within 60 days.

Solution Summary: The author calculates the cash discount and net amount due if the invoice is 9,121.44, 312% and 8,802.19.

Concept explainers

Videos

To calculate: The cash discount and net amount due if amount of invoice is $9,121.44, 312% of cash discount is offered when the invoice is paid within 15 days and n of cash discount is offered if the invoice is paid within 60 days.

Want to see the full answer?

Chapter 7 Solutions