Problem #1. While window shopping at you local mall you see the following advertisement. Really nice...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Problem #1. While window shopping at you local mall you see the following advertisement. "Really nice noise cancelling on-ear headphones are now on sale! 18% off! Only $149.99!" (a) What is the original selling price of the headphones on sale if the $149.99 sale price represents 18% off? (b) How much did the store pay for the headphones if the initial markup was 135% based on cost? (c) What is the percent markup based on selling price? (d) If next month the headphones are going to be on sale for $124.99, what is the markdown percent from the original price? Problem #2. You signed a $45,000 simple discount promissory note at your local bank. The discount rate was 11% ordinary interest, and the note was made on March 1st for 100 (a) What proceeds did you receive on the note? (b) What was the maturity date of the note? (c) What was the effective interest rate of the note? Round your answer to the nearest hundredth of a percent. Problem #1. While window shopping at you local mall you see the following advertisement. "Really nice noise cancelling on-ear headphones are now on sale! 18% off! Only $149.99!" (a) What is the original selling price of the headphones on sale if the $149.99 sale price represents 18% off? (b) How much did the store pay for the headphones if the initial markup was 135% based on cost? (c) What is the percent markup based on selling price? (d) If next month the headphones are going to be on sale for $124.99, what is the markdown percent from the original price? Problem #2. You signed a $45,000 simple discount promissory note at your local bank. The discount rate was 11% ordinary interest, and the note was made on March 1st for 100 (a) What proceeds did you receive on the note? (b) What was the maturity date of the note? (c) What was the effective interest rate of the note? Round your answer to the nearest hundredth of a percent.
Expert Answer:
Answer rating: 100% (QA)
1a Find the original selling price of the headphones Original Price 18 of Original Price Sale Price ... View the full answer
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
Posted Date:
Students also viewed these finance questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
When something burns, a. it combines with phlogiston b. it gives off phlogiston c. it combines with oxygen d. it gives off oxygen
-
Why is leveling of resources needed?
-
Which of the following is a more precise statement of the length 1 inch: 1 in = 2.54 cm or 1m = 39.37 in? Explain.
-
Have you ever read in the newspapers about the types of people who engage in company misdeeds?
-
Prepare journal entries for the City of Puddings governmental funds to record the following transactions, first for fund-based financial statements and then for government-wide financial statements....
-
5. If you were to connect an ammeter to measure current in the circuit at points A, B, and C how would the readings compare? (Do not connect ammeter yet) Explain the reasoning for your prediction....
-
Richardson Ski Racing (RSR) sells equipment needed for downhill ski racing. One of RSRs products is fencing used on downhill courses. The fence product comes in 150-foot rolls and sells for $215 per...
-
Jing Company was started on January 1, Year 1 when it issued common stock for $38,000 cash. Also, on January 1, Year 1 the company purchased office equipment that cost $16,200 cash. The equipment was...
-
What do you think the impact of testing for cannabis in a recreational or medical program state is on morale?
-
What is the key point in "Indigenous Feminism in Canada" Cheryl Suzack. Discuss briefly
-
Name differences in accounting and financial reporting for the federal government by examining the government - wide annual report.
-
What is the most important knowledge you get during the HRM course (1-4 specific pieces of knowledge)? Why?
-
Compare and contrast the fairness of forced rankings relative to two other methods of measuring performance.
-
Assume you are the manager of the flower shop. Choose two areasthat you would investigate further because the numbers appear odd.Maybe the numbers increased significantly. Maybe the numbers didnot...
-
Determine whether the lines are parallel, perpendicular, or neither. 2x + 3y = -12, 2y - 3x = 8
-
Consider a 2-person/2-good exchange economy in which person 1 is endowed with (e11, e12) and person 2 is endowed with (e21, e22) of the goods x1 and x2. A: Suppose that tastes are homothetic for both...
-
Consider a sequential game which is known as the Centipede Game. In this game, each of two players chooses between Left and Right each time he or she gets a turn. The game does not, however,...
-
Adaptive Expectations and Oil Price Instability: We mentioned in the text that trading across time is similar to trading across space in that individuals find opportunities to buy low and sell high....
-
If 25 women are randomly selected, find the probability that the mean of their red blood cell counts is less than 4.444. Assume that red blood cell counts of women are normally distributed with a...
-
Find the probability of an IQ less than 85.
-
What percentage of women have red blood cell counts in the normal range from 4.2 to 5.4? Assume that red blood cell counts of women are normally distributed with a mean of 4.577 and a standard...
Study smarter with the SolutionInn App