Section 3 (8 Marks) Problem 3.1: A refrigerator cost The Appliance Warehouse $841.20 and was initially marked up by 45% based on selling price. In the next few months, the item was marked down 10%, marked up 15%, marked down 20%, and marked down a final 12%. What was the final selling price of the refrigerator? Problem 3.2: Parkside Cyclery is a retail bicycle store. For last Christmas season, Parkside purchased one model of mountain bike to use as a Christmas promotion. The bicycles cost $176 each. For this promotion, Parkside's markup was 45% of selling price. Find the selling price and the dollar markup. Problem 3.3: Red Tag Furniture received a Sea-Land container of sofas from Thailand on April 24. The invoice, dated March 2, was for $66,230 in merchandise and $2,465 in shipping charges. The terms of sale were 2/15 ROG. Red Tag Furniture made a partial payment of $25,000 on April 26. a. What is the net amount due? b. What is the net date? Problem 3.4: You have 500. How much will you receive from your bank to convert the currency to Canadian dollars? The bank charges a 1.5% service charge for this type of transaction. Also, use this exchange rate: 1 equals $1.67 Canadian dollars. *** Good Luck. *** 3