Question

Northland Communication College purchased classroom furniture list priced at $3785 less series discounts of 5/10/20 with terms of 3/10-extra. If the college paid the invoice within 30 days, find the amount paid.

Answer 1

Northland Communication College paid $3430.80 for the classroom furniture.

Step-by-step explanation:

To find the amount paid by Northland Communication College for the purchased classroom furniture, we need to calculate the series discounts and apply the payment terms.

The list price of the furniture is $3785. The series discounts are 5%, 10%, and 20%, which are applied in sequence. To calculate the amount after each discount, we multiply the previous amount by (100 - discount percentage)/100.

The payment terms are 3/10-extra, which means if the college pays within 30 days, they can deduct 3% from the amount.

By applying the discounts and deducting the payment term discount, the amount paid by the college is $3430.80.