Question 1

Provide an appropriate response.
-Explain the meaning of a cash discount which employs the ordinary dating method using   ,   as an example.

Accepted Answer

The first digit, 3, is the percent of ca

Question 2

Find the net cost. Round to the nearest cent.
-$1,088 less

Accepted Answer

A) $544.00 
B) $1,063.00 
C) $816.00 
D) $837.22 
A) $544.00 
B) $1,063.00 
C) $816.00 
D) $837.22

Question 3

Compute the extension totals and the invoice total.
-

Accepted Answer

A)    
B)    
C)    
D)    
A)    
B)    
C)    
D)

Question 4

Solve for the amount of discount and amount due.
-Invoice amt: $30.86
Invoice date: July 9
Terms:  
Date paid: July 24

Accepted Answer

A) Amount of discount: $0; amount due: $30.86 
B) Amount of discount: $0.62; amount due: $30.24 
C) Amount of discount: $6.17; amount due: $24.69 
D) Amount of discount: $3.09; amount due: $27.77 
A) Amount of discount: $0; amount due: $30.86 
B) Amount of discount: $0.62; amount due: $30.24 
C) Amount of discount: $6.17; amount due: $24.69 
D) Amount of discount: $3.09; amount due: $27.77

Question 5

Solve for the amount of discount and amount due.
-Invoice amt: $271.22
Invoice date: Nov 16
Terms:  
ROG Goods rec'd: Dec 3 Date paid: Jan 5

Accepted Answer

A) Amount of discount: $7.84; amount due: $260.22 
B) Amount of discount: $21.70; amount due: $249.52 
C) Amount of discount: $8.14; amount due: $263.08 
D) Amount of discount: $0; amount due: $271.22 
A) Amount of discount: $7.84; amount due: $260.22 
B) Amount of discount: $21.70; amount due: $249.52 
C) Amount of discount: $8.14; amount due: $263.08 
D) Amount of discount: $0; amount due: $271.22

Question 6

Find the final discount date and the net payment date.
-Invoice date: Jan 12
As of: Jan 22
Terms:

Accepted Answer

A) Final discount: Feb 6
Payment due: Feb 21 
B) Final discount: Feb 21
Payment due: Feb 6 
C) Final discount: Jan 27
Payment due: Feb 11 
D) Final discount: Feb 5
Payment due: Feb 20 
A) Final discount: Feb 6
Payment due: Feb 21 
B) Final discount: Feb 21
Payment due: Feb 6 
C) Final discount: Jan 27
Payment due: Feb 11 
D) Final discount: Feb 5
Payment due: Feb 20

Question 7

Solve the problem. Round to the nearest cent.
-Central Airlines offers a series discount of   for frequent flyers. If a round-trip airline ticket is $741, what is the net cost after the series discount?

Accepted Answer

A) $388.28 
B) $352.72 
C) $481.65 
D) $259.35 
A) $388.28 
B) $352.72 
C) $481.65 
D) $259.35

Question 8

Solve the problem.
-An invoice is received from Westminster Office Machines for $312.20 with terms of   and dated Feb 25 AS OF Mar 1. If a partial payment of $190 is made on Mar 12, find the balance due on the invoice.

Accepted Answer

A) $202.13 
B) $110.07 
C) $103.47 
D) $122.20 
A) $202.13 
B) $110.07 
C) $103.47 
D) $122.20

Question 9

Find the net cost equivalent and the percent form of the single discount equivalent for the following series discount.
-

Accepted Answer

A) 0.5; 55% 
B) 0.41658; 58.342% 
C) 0.58342; 41.658% 
D) 0.55; 50% 
A) 0.5; 55% 
B) 0.41658; 58.342% 
C) 0.58342; 41.658% 
D) 0.55; 50%

Question 10

Find the list price. Round to the nearest cent.
-Net cost $239; trade discount

Accepted Answer

A) $155.84 
B) $143.40 
C) $366.53 
D) $398.33 
A) $155.84 
B) $143.40 
C) $366.53 
D) $398.33

Question 11

Solve for the amount of discount and amount due.
-Invoice amt: $4,091
Invoice date: July 7
Terms:  
Date paid: July 27

Accepted Answer

A) Amount of discount: $409.10; amount due: $3,681.90 
B) Amount of discount: $0; amount due: $4,091 
C) Amount of discount: $40.91; amount due: $4,050.09 
D) Amount of discount: $122.73; amount due: $3,968.27 
A) Amount of discount: $409.10; amount due: $3,681.90 
B) Amount of discount: $0; amount due: $4,091 
C) Amount of discount: $40.91; amount due: $4,050.09 
D) Amount of discount: $122.73; amount due: $3,968.27

Question 12

Using complements (with respect to 1) of the single discounts, find the net cost equivalent for the following discount.
-

Accepted Answer

A) 0.6 
B) 0.56 
C) 0.5 
D) 0.44 
A) 0.6 
B) 0.56 
C) 0.5 
D) 0.44

Question 13

Solve the problem. Round to the nearest cent.
-The store where Anna-Marie is a salesperson offers a series discount of 5/30 on any clothes bought at the store. What is the cost of a $65 sweater after discount?

Accepted Answer

A) $45.50 
B) $42.25 
C) $43.23 
D) $21.78 
A) $45.50 
B) $42.25 
C) $43.23 
D) $21.78

Question 14

Solve the problem.
-An invoice is received from Westminster Office Machines for $440.30 with terms of 7/14 and dated Feb 25 AS OF Mar 1. If a partial payment of $150 is made on Mar 24, find the balance due on the invoice.

Accepted Answer

A) $161.29 
B) $290.30 
C) $259.48 
D) $279.01 
A) $161.29 
B) $290.30 
C) $259.48 
D) $279.01

Question 15

What does the abbreviation stand for?
-cwt.

Accepted Answer

A) count weight 
B) cost by weight 
C) count 
D) per hundred weight 
A) count weight 
B) cost by weight 
C) count 
D) per hundred weight

Question 16

Solve for the amount of discount and amount due.
-Invoice amt: $1,474
Invoice date: May 16
Terms:  
Shipping/Insurance: $33.05 Date paid: May 24

Accepted Answer

A) Amount of discount: $58.96; amount due: $1,381.99 
B) Amount of discount: $60.28; amount due: $1,446.77 
C) Amount of discount: $58.96; amount due: $1,448.09 
D) Amount of discount: $0; amount due: $1,507.05 
A) Amount of discount: $58.96; amount due: $1,381.99 
B) Amount of discount: $60.28; amount due: $1,446.77 
C) Amount of discount: $58.96; amount due: $1,448.09 
D) Amount of discount: $0; amount due: $1,507.05

Question 17

Solve the problem. Round to the nearest cent.
-Tech Support offers trade discounts of   and terms of   ,   on its tool cases. Assuming a service department earns the cash discount, find the net cost of a tool case list-priced at $362.

Accepted Answer

A) $252.82 
B) $245.80 
C) $234.58 
D) $260.64 
A) $252.82 
B) $245.80 
C) $234.58 
D) $260.64

Question 18

Find the discount date and net payment date. (The net payment date is 20 days after the final discount date.)
-Invoice date: Nov 14
Terms:  
ROG Goods received: Dec 13

Accepted Answer

A) Discount date: Dec 15; net payment date: Jan 15 
B) Discount date: Jan 14; net payment date: Jan 30 
C) Discount date: Dec 28; net payment date: Jan 18 
D) Discount date: Dec 28; net payment date: Jan 17 
A) Discount date: Dec 15; net payment date: Jan 15 
B) Discount date: Jan 14; net payment date: Jan 30 
C) Discount date: Dec 28; net payment date: Jan 18 
D) Discount date: Dec 28; net payment date: Jan 17

Question 19

Find the net cost. Round to the nearest cent.
-$1,538 less

Accepted Answer

A) $1,076.60 
B) $769.00 
C) $1,107.36 
D) $1,508.00 
A) $1,076.60 
B) $769.00 
C) $1,107.36 
D) $1,508.00

Question 20

Solve the problem. Round to the nearest cent.
-Fairview Paint Supply offers contractors a trade discount of 10/15/10 on all paints and varnishes, with terms of   . Find a contractor's price for paints with a total list price of $373 if the invoice is paid in 30 days.

Accepted Answer

A) $242.45 
B) $256.81 
C) $249.11 
D) $235.18 
A) $242.45 
B) $256.81 
C) $249.11 
D) $235.18

Provide an appropriate response. -Explain the meaning of a cash discount which employs the ordinary dating method using , as an example.

Find the net cost. Round to the nearest cent. -$1,088 less

Compute the extension totals and the invoice total. -

Solve for the amount of discount and amount due. -Invoice amt: $30.86 Invoice date: July 9 Terms: Date paid: July 24

Solve for the amount of discount and amount due. -Invoice amt: $271.22 Invoice date: Nov 16 Terms: ROG Goods rec'd: Dec 3 Date paid: Jan 5

Find the final discount date and the net payment date. -Invoice date: Jan 12 As of: Jan 22 Terms:

Solve the problem. Round to the nearest cent. -Central Airlines offers a series discount of for frequent flyers. If a round-trip airline ticket is $741, what is the net cost after the series discount?

Solve the problem. -An invoice is received from Westminster Office Machines for $312.20 with terms of and dated Feb 25 AS OF Mar 1. If a partial payment of $190 is made on Mar 12, find the balance due on the invoice.

Find the net cost equivalent and the percent form of the single discount equivalent for the following series discount. -

Find the list price. Round to the nearest cent. -Net cost $239; trade discount

Solve for the amount of discount and amount due. -Invoice amt: $4,091 Invoice date: July 7 Terms: Date paid: July 27

Using complements (with respect to 1) of the single discounts, find the net cost equivalent for the following discount. -

Solve the problem. Round to the nearest cent. -The store where Anna-Marie is a salesperson offers a series discount of 5/30 on any clothes bought at the store. What is the cost of a $65 sweater after discount?

Solve the problem. -An invoice is received from Westminster Office Machines for $440.30 with terms of 7/14 and dated Feb 25 AS OF Mar 1. If a partial payment of $150 is made on Mar 24, find the balance due on the invoice.

What does the abbreviation stand for? -cwt.

Solve for the amount of discount and amount due. -Invoice amt: $1,474 Invoice date: May 16 Terms: Shipping/Insurance: $33.05 Date paid: May 24

Solve the problem. Round to the nearest cent. -Tech Support offers trade discounts of and terms of , on its tool cases. Assuming a service department earns the cash discount, find the net cost of a tool case list-priced at $362.

Find the discount date and net payment date. (The net payment date is 20 days after the final discount date.) -Invoice date: Nov 14 Terms: ROG Goods received: Dec 13

Find the net cost. Round to the nearest cent. -$1,538 less

Solve the problem. Round to the nearest cent. -Fairview Paint Supply offers contractors a trade discount of 10/15/10 on all paints and varnishes, with terms of . Find a contractor's price for paints with a total list price of $373 if the invoice is paid in 30 days.

Whole Numbers and Decimals

Fractions

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Equations and Formulas

Bank Services

Payroll

Mathematics of Selling

Simple Interest

Compound Interest and Inflation

Annuities, Stocks, and Bonds

Business and Consumer Loans

Taxes and Insurance

Depreciation

Financial Statements and Ratios

Budgeting and Business Statistics

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Exam 7: Mathematics of Buying