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pixiedust7891 pixiedust7891
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A week ago
Wei Fang Food Importers often 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 Wei Fang's purchases and terms from two different suppliers. Use a 365-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.
$2,650
3/5, n/15
________
  9%
________
________
________
b.
$3,600
2/10, n/30
________
10%
________
________
________
Textbook 
Contemporary Business Mathematics for Colleges

Contemporary Business Mathematics for Colleges


Edition: 16th
Authors:
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abu-jahdoabu-jahdo
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A week ago
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More solutions for this book are available here

 
Cash
Days of
Amount of
 
 
Discount
Interest
Interest
Savings
a.
$79.50
10
$  6.34
$73.16
b.
$72.00
20
$19.33
$52.67
1

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pixiedust7891 Author
wrote...

A week ago
Thanks
dianeflunder
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Yesterday
Thank you, thank you, thank you!
halyna
wrote...

2 hours ago
this is exactly what I needed
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