1. Mark has to figure out values for his business since he needs profits.
a.If US$1 = C$1.1277, and if the bank in Canada charges 0.9% commission to buy or sell currencies, how many US dollars can you buy for C$4,200?
b.Speakers are listed by a manufacturer for $720, less trade discounts of 7% and 6%. What further rate of discount should be given to bring the net price to $587?
c.Mike purchased furniture for $8,400 and received an invoice dated February 5, 2017, with terms 2.5/10, n/30. He made a partial payment of $3,600 on February 10, 2017, and the balance on February 20, 2017. What was the balance?
- What is the markup rate based on cost, if the markup rate based on selling price is 14%?
e.On January 5, 2018, Atlas Inc. received an invoice for $200,000 with terms 2/10, EOM. a. If Atlas Inc. made the full payment for the invoice on February 15, 2018, how much was the payment? b. If Atlas Inc. made the full payment for the invoice on February 2, 2018, how much was the payment?
1. Mark has to figure out values for his business since he needs profits.
a.If US$1 = C$1.1277, and if the bank in Canada charges 0.9% commission to buy or sell currencies, how many US dollars can you buy for C$4,200?
b.Speakers are listed by a manufacturer for $720, less trade discounts of 7% and 6%. What further rate of discount should be given to bring the net price to $587?
c.Mike purchased furniture for $8,400 and received an invoice dated February 5, 2017, with terms 2.5/10, n/30. He made a partial payment of $3,600 on February 10, 2017, and the balance on February 20, 2017. What was the balance?
- What is the markup rate based on cost, if the markup rate based on selling price is 14%?
e.On January 5, 2018, Atlas Inc. received an invoice for $200,000 with terms 2/10, EOM. a. If Atlas Inc. made the full payment for the invoice on February 15, 2018, how much was the payment? b. If Atlas Inc. made the full payment for the invoice on February 2, 2018, how much was the payment?
