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OPMT 1110 Fall 201B Amount to be Paid - Amount Credited (1-d) Amo Credited Amount Paid x (1-d) Amount Lab Exercises: s20,00ust bhe paid on Sept 28 to pay off the 3 invoices with terms 3/10, 1.5/20, n/457 $20,000 dated Aug 15 $35,000 dated Sept 8 S50,000 dated Sept 18 2/10, 1/20, n/30. The first received two invoices from Apple with payment termms 00 is dated May 10 and the second invoice for $85,000 is dated June 2 How much do they have to pay on invoice for $30,0 They sent Apple a cheque for $79,000 on June 10. The cheque will be applied to the older June invoice first and the rest towards the June 2 invoice. 20 to fully pay it off? 3. A company received invoices from the same supplier with payment terms 2 e$20,000 dated June 10$40,000 dated June 20 .$85,000 dated June 30 On July 10, they send in a cheque for $100,000. How much do they still owe? The cheque wnll be applied to the older invoices first and the rest towards the most recent invoice. 4. LG sells a 72-inch flat screen TV to retailers for $4,500 less trade discounts of 20% and 15%. LG recently came up with a new model of flat screen TV. To sell the remaining stock quickly LG offers retailers a 5% quantity (chained) discount if they buy a minimum of 20 sets or 10% if they buy a minimum of 50 (a) Best Buy purchases 60 TV sets. (b) LG sends Best Buy an invoice dated October 10 with terms 2.5/10, n/30. On October 19 (Retailers can receive only one volume discount) What is the total cost to buy the 60 TV sets? Best Buy sends in a cheque for $117,000. How much do they still owe? 5. Ripples Coffee Just bought 1,500 bags of coffee for si4bag less trade discounts of 35% and 20%. Their invoice is dated June 6, Payment terms are 2.5/10, 1/20, n/30. (a) Ripples Coffee sends in a cheque for $4,485 on June 16. If discounts are given for partial payments, how much do they need to pay on June 26 to fully pay it off? (b) In total, how much money did Ripples save by paying early? (c) How much discount did they lose by not paying the entire invoice within the 10 days? 6. An LG TV, set costs retailers $525 less 20% and 15%. LG gives a 5% quantity discount (chained) to retailers if they buy a minimum of 100 TV sets or 10% if they buy a minimum of 300. (Retailers receive only one volume discount). (a) A retailer purchases 350 TV sets. What is the total cost to the retailer? (b) LG sends the retailer an invoice dated September 10 with terms 2.5/10, 1/20, n/30. On September 20 the retailer sent in a cheque for $87,750. How much do they have to pay on Sept 30 to fully pay it off? OPMT 1110 Fall 201B Amount to be Paid - Amount Credited (1-d) Amo Credited Amount Paid x (1-d) Amount Lab Exercises: s20,00ust bhe paid on Sept 28 to pay off the 3 invoices with terms 3/10, 1.5/20, n/457 $20,000 dated Aug 15 $35,000 dated Sept 8 S50,000 dated Sept 18 2/10, 1/20, n/30. The first received two invoices from Apple with payment termms 00 is dated May 10 and the second invoice for $85,000 is dated June 2 How much do they have to pay on invoice for $30,0 They sent Apple a cheque for $79,000 on June 10. The cheque will be applied to the older June invoice first and the rest towards the June 2 invoice. 20 to fully pay it off? 3. A company received invoices from the same supplier with payment terms 2 e$20,000 dated June 10$40,000 dated June 20 .$85,000 dated June 30 On July 10, they send in a cheque for $100,000. How much do they still owe? The cheque wnll be applied to the older invoices first and the rest towards the most recent invoice. 4. LG sells a 72-inch flat screen TV to retailers for $4,500 less trade discounts of 20% and 15%. LG recently came up with a new model of flat screen TV. To sell the remaining stock quickly LG offers retailers a 5% quantity (chained) discount if they buy a minimum of 20 sets or 10% if they buy a minimum of 50 (a) Best Buy purchases 60 TV sets. (b) LG sends Best Buy an invoice dated October 10 with terms 2.5/10, n/30. On October 19 (Retailers can receive only one volume discount) What is the total cost to buy the 60 TV sets? Best Buy sends in a cheque for $117,000. How much do they still owe? 5. Ripples Coffee Just bought 1,500 bags of coffee for si4bag less trade discounts of 35% and 20%. Their invoice is dated June 6, Payment terms are 2.5/10, 1/20, n/30. (a) Ripples Coffee sends in a cheque for $4,485 on June 16. If discounts are given for partial payments, how much do they need to pay on June 26 to fully pay it off? (b) In total, how much money did Ripples save by paying early? (c) How much discount did they lose by not paying the entire invoice within the 10 days? 6. An LG TV, set costs retailers $525 less 20% and 15%. LG gives a 5% quantity discount (chained) to retailers if they buy a minimum of 100 TV sets or 10% if they buy a minimum of 300. (Retailers receive only one volume discount). (a) A retailer purchases 350 TV sets. What is the total cost to the retailer? (b) LG sends the retailer an invoice dated September 10 with terms 2.5/10, 1/20, n/30. On September 20 the retailer sent in a cheque for $87,750. How much do they have to pay on Sept 30 to fully pay it off