The box on page 569 summarizes the finance formulas you have worked with throughout the chapter. Where applicable, use the appropriate formula to solve an exercise in this test. Unless otherwise stated, round dollar amounts to the nearest cent and rates to the nearest tenth of a percent. A CD player with an original price of $120 is on sale at 15% off. a. What is the amount of the discount? b. What is the sale price of the CD player?

Question

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Answer 1

Textbook Question

Chapter 8, Problem 1T

The box on page 569 summarizes the finance formulas you have worked with throughout the chapter. Where applicable, use the appropriate formula to solve an exercise in this test. Unless otherwise stated, round dollar amounts to the nearest cent and rates to the nearest tenth of a percent.

A CD player with an original price of $120 is on sale at 15% off.

a. What is the amount of the discount?

b. What is the sale price of the CD player?

(a)

Expert Solution

To determine

To calculate: The value of the discount when price of the CD player is $120, and the discount on the sale is 15%..

Answer to Problem 1T

Solution:$18.

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the value of the discount using the equation as shown below:

Value of discount=Sales price−Discount percent=$120−($120×0.15)=$18

(b)

Expert Solution

To determine

To calculate: The sales price of the CD player when price of the CD player is $120, and the discount on the sale is 15%.

Answer to Problem 1T

Solution:$102.

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the amount of sales price of the CD player using the equation as shown below:

Discounted Sales price=Sales price−Amount of the Discount=$120−$18=$102

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Answer 2

Textbook Question

Chapter 8, Problem 1T

The box on page 569 summarizes the finance formulas you have worked with throughout the chapter. Where applicable, use the appropriate formula to solve an exercise in this test. Unless otherwise stated, round dollar amounts to the nearest cent and rates to the nearest tenth of a percent.

A CD player with an original price of $120 is on sale at 15% off.

a. What is the amount of the discount?

b. What is the sale price of the CD player?

(a)

Expert Solution

To determine

To calculate: The value of the discount when price of the CD player is $120, and the discount on the sale is 15%..

Answer to Problem 1T

Solution:$18.

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the value of the discount using the equation as shown below:

Value of discount=Sales price−Discount percent=$120−($120×0.15)=$18

(b)

Expert Solution

To determine

To calculate: The sales price of the CD player when price of the CD player is $120, and the discount on the sale is 15%.

Answer to Problem 1T

Solution:$102.

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the amount of sales price of the CD player using the equation as shown below:

Discounted Sales price=Sales price−Amount of the Discount=$120−$18=$102

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Answer 3

Textbook Question

Chapter 8, Problem 1T

The box on page 569 summarizes the finance formulas you have worked with throughout the chapter. Where applicable, use the appropriate formula to solve an exercise in this test. Unless otherwise stated, round dollar amounts to the nearest cent and rates to the nearest tenth of a percent.

A CD player with an original price of $120 is on sale at 15% off.

a. What is the amount of the discount?

b. What is the sale price of the CD player?

(a)

Expert Solution

To determine

To calculate: The value of the discount when price of the CD player is $120, and the discount on the sale is 15%..

Answer to Problem 1T

Solution:$18.

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the value of the discount using the equation as shown below:

Value of discount=Sales price−Discount percent=$120−($120×0.15)=$18

(b)

Expert Solution

To determine

To calculate: The sales price of the CD player when price of the CD player is $120, and the discount on the sale is 15%.

Answer to Problem 1T

Solution:$102.

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the amount of sales price of the CD player using the equation as shown below:

Discounted Sales price=Sales price−Amount of the Discount=$120−$18=$102

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Answer 4

Textbook Question

Chapter 8, Problem 1T

The box on page 569 summarizes the finance formulas you have worked with throughout the chapter. Where applicable, use the appropriate formula to solve an exercise in this test. Unless otherwise stated, round dollar amounts to the nearest cent and rates to the nearest tenth of a percent.

A CD player with an original price of $120 is on sale at 15% off.

a. What is the amount of the discount?

b. What is the sale price of the CD player?

(a)

Expert Solution

To determine

To calculate: The value of the discount when price of the CD player is $120, and the discount on the sale is 15%..

Answer to Problem 1T

Solution:$18.

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the value of the discount using the equation as shown below:

Value of discount=Sales price−Discount percent=$120−($120×0.15)=$18

(b)

Expert Solution

To determine

To calculate: The sales price of the CD player when price of the CD player is $120, and the discount on the sale is 15%.

Answer to Problem 1T

Solution:$102.

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the amount of sales price of the CD player using the equation as shown below:

Discounted Sales price=Sales price−Amount of the Discount=$120−$18=$102

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Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

(a)

Expert Solution

To determine

To calculate: The value of the discount when price of the CD player is $120, and the discount on the sale is 15%..

Answer to Problem 1T

Solution:$18.

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the value of the discount using the equation as shown below:

Value of discount=Sales price−Discount percent=$120−($120×0.15)=$18

(b)

Expert Solution

To determine

To calculate: The sales price of the CD player when price of the CD player is $120, and the discount on the sale is 15%.

Answer to Problem 1T

Solution:$102.

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the amount of sales price of the CD player using the equation as shown below:

Discounted Sales price=Sales price−Amount of the Discount=$120−$18=$102

Answer 8

(a)

Expert Solution

To determine

To calculate: The value of the discount when price of the CD player is $120, and the discount on the sale is 15%..

Answer to Problem 1T

Solution:$18.

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the value of the discount using the equation as shown below:

Value of discount=Sales price−Discount percent=$120−($120×0.15)=$18

Answer 9

(a)

Expert Solution

Answer 10

(a)

Expert Solution

Answer 11

Expert Solution

Answer 12

To determine

To calculate: The value of the discount when price of the CD player is $120, and the discount on the sale is 15%..

Answer 13

Answer to Problem 1T

Solution:$18.

Answer 14

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the value of the discount using the equation as shown below:

Value of discount=Sales price−Discount percent=$120−($120×0.15)=$18

Answer 15

(b)

Expert Solution

To determine

To calculate: The sales price of the CD player when price of the CD player is $120, and the discount on the sale is 15%.

Answer to Problem 1T

Solution:$102.

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the amount of sales price of the CD player using the equation as shown below:

Discounted Sales price=Sales price−Amount of the Discount=$120−$18=$102

Answer 16

(b)

Expert Solution

Answer 17

(b)

Expert Solution

Answer 18

Expert Solution

Answer 19

To determine

To calculate: The sales price of the CD player when price of the CD player is $120, and the discount on the sale is 15%.

Answer 20

Answer to Problem 1T

Solution:$102.

Answer 21

Explanation of Solution

Given: The price of the CD player is $120, and the discount on the sale is 15%.

Calculation:

Compute the amount of sales price of the CD player using the equation as shown below:

Discounted Sales price=Sales price−Amount of the Discount=$120−$18=$102

Answer 22

Concept explainers

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Answer to Problem 1T

Explanation of Solution

Answer to Problem 1T

Explanation of Solution

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Chapter 8 Solutions