11-16 11. Target has a discount rack marked at 45% off. If an item has an original price tag of $18 and tax on theitem is 6%, what is your final cost after discount and tax is includeď?12. Penney's is selling an $80 dress for $55. What is the percentage of decrease in price?13. Wal Mart is selling cards for $2.75. They bought them for a dollar from the manufacturer. What is thepercentage of increase in price?Note: All interest percentage rates are for a period of one (1) year14. You are going to put $2000 in your bank for 3 years with an interest rate of 5.75%. What would yourinterest be at the end of this period? This is a simple interest problem (I = Prt).15. You put $4500 into a bank CD at a rate of 8.5%. You are only going to leave your money in there for 6months. At the end of the 6 months how much is your CD worth? Simple interest problem (I = Prt). Note: 6months = ½ year!16. You are taking out a loan of $2400 to pay for a bedroom set. The store is going to charge you 9% simpleinterest for 4 years. How much will you have to pay each month to repay the store?

Answered: 6%, what is your final cost after…

Business

Finance

6%, what is your final cost after discount and tax is included?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 10MC

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Question

11-16

11. Target has a discount rack marked at 45% off. If an item has an original price tag of $18 and tax on the
item is 6%, what is your final cost after discount and tax is includeď?
12. Penney's is selling an $80 dress for $55. What is the percentage of decrease in price?
13. Wal Mart is selling cards for $2.75. They bought them for a dollar from the manufacturer. What is the
percentage of increase in price?
Note: All interest percentage rates are for a period of one (1) year
14. You are going to put $2000 in your bank for 3 years with an interest rate of 5.75%. What would your
interest be at the end of this period? This is a simple interest problem (I = Prt).
15. You put $4500 into a bank CD at a rate of 8.5%. You are only going to leave your money in there for 6
months. At the end of the 6 months how much is your CD worth? Simple interest problem (I = Prt). Note: 6
months = ½ year!
16. You are taking out a loan of $2400 to pay for a bedroom set. The store is going to charge you 9% simple
interest for 4 years. How much will you have to pay each month to repay the store?

Expert Solution

Step 1

Discount:

Discount refers to a decrease in the price of a product or service. Discount is usually expressed in percentage.

Final Cost:

It refers to the cost of a product or service inclusive of all discounts, expenses, and taxes.

NOTE:

As per our policy, we only answer one question when different questions are posted. Therefore, the first question is answered. Please repost the remaining question.

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