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mariasmakatof mariasmakatof
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A year ago
Garcia Heating & Air Conditioning tries to take advantage of cash discounts, even if it must borrow the money for a few days in order to pay the invoice in time. Compute the savings on Garcia's purchases and terms from two different suppliers. Use a 360-day year. Assume that the number of interest days is the time between the due date and the last date to take advantage of the cash discount.

    
Interest
   
    
Rate
Days
Amount
 
   
Cash
on
of
of
 
 
Invoice
Terms
Discount
Loan
Interest
Interest
Savings
a.
$1,200
1/10, n/25
________
  8%
________
________
________
b.
$4,895
2/20, n/40
________
11%
________
________
________
Textbook 
Contemporary Business Mathematics for Colleges

Contemporary Business Mathematics for Colleges


Edition: 16th
Authors:
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rick32rick32
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A year ago
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mariasmakatof Author
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A year ago
this is exactly what I needed
bkrandy
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Yesterday
Brilliant ツ
DragonHeart
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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