7. A retail store sells a jacket for RM290, less 18%. A department store sells the same jacket for RM265, less than 12%. Which store is offering the item for a cheaper price, and for how much? 8. Laura received an invoice of RM3060.50 dated May 31, terms 3/15, n/30. She paid it in full on June 14. What amount did she pay? 9. Determine the payment needed to settle an invoice with a net amount of RM750, dated January 26, terms of sale are 2/10, 1/20, and n/30, if the invoice is paid on: a) February 3 b) February 14 c) March 3 d) April 2 e) May 20 10. Determine the payment required to settle the invoice on the Indicated payment date. Invoice amount (RM) Payment date Credit terms 2/10, n/30 2365.00 Oct 5 2365.00 1.5/15, n/45 Nov 10 815.49 July 7 5445.00 April 13 No 1 2 3 4 2/10, 1/20, n/60 3/10, 1.5/20, n/60 Invoice date Sept 25 Oct 25 June 27 March 23 11. The net price on an item listed for RM369 is RM287.82. What trade discount rate is being given?