a.If US$1 = C$1.1277, and if the bank in Canada charges 0.9% commission to buy or sell currencies, how many US dollars can you buy for C$4,200?b.Speakers are listed by a manufacturer for $720, less trade discounts of 7% and 6%. What further rate of discount should be given to bring the net price to $587?c.Mike purchased furniture for $8,400 and received an invoice dated February 5, 2017, with terms 2.5/10, n/30. He made a partial payment of $3,600 on February 10, 2017, and the balance on February 20, 2017. What was the balance?d. What is the markup rate based on cost, if the markup rate based on selling price is 14%?

Question
Asked Apr 12, 2019
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a.If US$1 = C$1.1277, and if the bank in Canada charges 0.9% commission to buy or sell currencies, how many US dollars can you buy for C$4,200?

b.Speakers are listed by a manufacturer for $720, less trade discounts of 7% and 6%. What further rate of discount should be given to bring the net price to $587?

c.Mike purchased furniture for $8,400 and received an invoice dated February 5, 2017, with terms 2.5/10, n/30. He made a partial payment of $3,600 on February 10, 2017, and the balance on February 20, 2017. What was the balance?

d. What is the markup rate based on cost, if the markup rate based on selling price is 14%?

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Expert Answer

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Step 1

You have posted many unrelated questions. I will address first three of them. Please post the blance question as a separate question.

Step 2

Part (a)

US$1 = C$1.1277

Commission charged = 0.9%

Quntum of US $ we can buy using C$ 4,200 = 4,200 / 1.1277 x ( 1- 0.9%) = US $ 3,691 

Step 3

Part (b)

Net price = Quoted price x (1 - d1) x (1 - d2) x (1 - d3) where

d1 = first discount = 7%; d2 = second discount = 6% and d3 is the third discount...

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