Week 7 Math
END-OF-CHAPTER PROBLEMS
Graw
connect
Check figures for odd-numbered problems in Appendix B. Date_ DRILL PROBLEMS For all problems, round your final answer to the nearest cent. Do not round net price equivalent rates or single equivalent discount rates. Complete the following: LU 7-1(4)
Item
Net price Single equivalent List Chain equivalent discount rate Trade Net price discount rate in decimals) in decimals) discount price
7-1. HP computer $L200 4/1
7-2. LG B1u-Ray player $199 8/4/3
7-3. Canon document scanner $269 7/3/1
Complete the following: LU 7-1(4)
Item
List price Chain discount
7-4. Trotter treadmill 53.000 9/4
Net price Trade discount
7-5. Maytag dishwasher $450 8/5/6 7-6. Sony digital camera $320 3/5/9
7-7. Land Rover roofrack $ 1 850 12/9/6 excel
7-8. Which of the following companies, A or B, gives a higher discount? Use the single equivalent discount rate to make your choice (convert your equivalent rate to the nearest hundredth percent). Company A Company B 8/ 10/ 15/3 10/6/16/5
Complete the following: LU 7-2(1)
Date goods Invoice are received
Terms
7-9. June 18 1/10, n/30
7-10. Nov. 27 2110 EOM
7-11. May 15 7-12. April 10
June 5
3/10. n/30. ROG 2/10. 1/30. n/60
7-13. June 12 3/10 EOM
Last day* of discount period
Final day bill is due (end of credit period)
Gross amount of invoice (freight charge already included)
7-15. $7,000
7-16. $600 7-17. S200 7-18. S500
Freight charge Date of invoice $100 4/8 None 8/1 None 11/13 SRX) 11/29
Complete the following: LU 7-2(2)
Terms of Date of Cash Net amount invoice payment discount paid
2/10, n/60 4/15
3/10, 2/15, n/30 8/13 1/10 EOM 12/3 1/10 EOM 1/4
Date of Amount of Amount Invoice Actual partial partial payment to Balance of invoice Terms date payment made payment be credited outstanding
7-19. $700 2/10, n/60 5/6 $400 5/15 7-20. $600 4/10. n/60 7/5 $400 7/14 WORD PROBLEMS (Round to Nearest Cent as Needed)
7-21. The list price of an iPhone 12 Pro Max is $1,099. Presume Amazon receives a trade discount of 20%. Find the trade discount amount and the net price. LU 7-1(1) excel
7-22. A model NASCAR race car lists for $79.99 with a trade discount of 40%. What is the net orice of the car? LU 7-1(1)
