Answer a. The 25/12/10 discount because it results in a final discount of 59.4%

Question

Answer

a. The 25/12/10 discount because it results in a final discount of 59.4% b. The 20/10/5 discount because it results in a final discount of 31.6% c. The 20/10/5 discount because it results in a final discount of 68.4% d. The 25/12/10 discount because it results in a final discount of 40.6%
Widgets Inc., received an invoice from a supplier for raw materials that had a list price of $12,600.00. The supplier offered a series discount of 30/20/10 and terms of 2/10, N/30 R.O.G. and FOB shipping point. The supplier pre-paid the freight of $350.00. The invoice was dated June 10 and the goods were received on June 30. If Widgets remitted full payment on July 10, what was the amount they paid?
Answer a. $6,573.39 b. $5,880.39 c. $6,223.39 d. $6,566.39
Suppose that you took out a loan at 12% interest for 200 days. If the amount of interest was $690.41, use the exact interest method to find the amount of principal you borrowed. (Round to the nearest whole dollar amount) Answer a. $10,500 b. $45 c. $10,356 d. $4,540

Explanation / Answer

1. d

2. c

3. a

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