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Home Q & A Board Science-Related Homework Help Mathematics
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gewusel gewusel
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6 years ago
Sepaba Ltd. received an invoice dated November 20 from Wallis Specialties of Germany with terms 5/20, n/45 for:

   10 vases at $35.00 each;
   20 figurines at $50.50 each;
   40 glass flutes at $80.50 each.

All items are subject to trade discounts of 30%, 10%, 5%.

a) What is the last day of the discount period?
b) What is the amount due if the invoice is paid in full on December 8?
c) If only a partial payment is made on the last day of the discount period, what amount is due to reduce the outstanding balance to $1500.00?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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#1
6 years ago
a)    December 10

b)    10 * 35.00 =   $350.00
   20 * 50.50 =   $1010.00
   40 * 80.50 =   $3220.00
   $4580.00
   Net Amount = 4580(0.70)(0.90)0.95 = $2741.13
   Payment on December 8 is within the 5% discount period
   Full Payment = 2741.13(0.95) = $2 604.07

c)    Net Amount =    $2741.13
   Remaining balance =    1500.00
   Amount of reductioN =    $1241.13
   Discount of 5% applies
   Payment = 1241.13(1-0.05)
   = $1179.07
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