Business Mathematics

Assignment 2

BUSINESS MATHEMATICS
Assignment 2
Name: ____________________________________
Section: ___________________________________

Date: _______________

A. Discount
(1) Find the trade discount for styling gel that lists for $80 and has a trade discount of 30%.

(2) Find the net price of a down jacket that lists for $250 and has a trade discount of 15%.

(3) Find the discount rate if the net price is $300 and the trade discount is $75

(4-7) Chief Enterprises received a $2,248 bill for computer supplies dated January 2 with sales terms of
3/10, 1/15 n/30. A 7% penalty is charged after 30 days. Find the amount due for the following dates:
(4) January 8
(5) January 14
(6) January 25
(7) February 10

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Business Mathematics
Assignment 2

B. Interest
(1) Find the interest on a 2-year loan of $3,000 at a 5% rate.

(2) Terry Williams is going to borrow $5,000 at 9.5% interest. What is the maturity value of the loan
after four years?

(3) Akiko is saving a little extra money to pay for her car insurance next year. If she invests $10,000
for 9 months at 8%, how much interest can she earn?

(4) Judy paid $2080 in interest on a loan that she had for 6 months. The interest rate was 12%. How
much was the principal?

(5) Sam wants to borrow $3,500 for 18 months and will have to pay $525 in interest. What is the
rate he is being charged?

(6) Shelby borrowed $15,000 at 8% and paid $1,600 in interest. What was the length of the loan?

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