# Research Paper Help|Math-problem

Question No.1
The list price for a radio is 22% higher than its net price. If the net price is \$29.00, what is the
list price? What is the amount of the trade discount?
List price is22 % higher
i.e. List price/ Net price = 122/100
Therefore List price = 122/100 * 29
The calculation is accomplished as below:
List Price \$ 35,38
Net Price \$ 29,00
Question No.2
A certified public accountant discounts a bill to \$294.00 when a client pays
in cash, within 10 days. If the cash discount is 1.5%, how much would the customer
have paid if he or she had not been eligible for the discount? Report the result to the
nearest penny.
Discount = Bill amount * 1.5/100
Bill amount = Discounted value + Discount = Discounted amount + Bill amount * 1.5/100
Discounted value = Bill amount (1-1.5/100) = Bill amount * 98.5/100
or: Bill amount = Discounted value * 100/98.5
The above calculation is accomplished in Excel worksheet as below:
Un-discounted bill \$ 298,48
Percentage discount 1,50%
Discounted bill amount \$ 294,00
Amount of discount \$ 4,48
Question No.3
Bill’s Accounting is taking out a lease on \$2,000 worth of computing equipment and office
furniture, over a two year period. The bank charges 8.25% interest annually. Compute the
interest paid and the total amount paid for the lease.
Principal repaid at the end of the period
Principal for first year as well as second year = \$ 2000
Annual Interest is calculated by the formula: I = P * r / 100
Where ‘r’ is the annual rate of interest
Here ‘r’ = 8.25
Therefore annual interest of \$ 2000 is: 2000 * 8.25/100 =
Interest for 2 years = Annual interest * 2
The above calculation is accomplished in Excel worksheet as below:
Amount of loan \$ 2 000,00
Annual interest \$ 165,00
Interest for 2 years \$ 330,00
TOTAL AMOUNT PAYABLE \$ 2 330,00
Question No.4
You need to borrow \$5,000 for 2.33 years. Originally, the bank offers a 6.5% rate. Then,
after some negotiation, they are willing to drop the rate to 5.5%. What savings in interest will you
have as a result of the rate reduction?
Annual Interest is calculated by the formula: I = P * r / 100
Where ‘I’ is the interest amount and ‘r’ is the annual rate of interest
Here ‘r’ = 6.5 in one case and 5.5 in the other case
Principal amount \$ 5 000,00
Period (Years) 2,33
Original interest rate (Percent) 6,50%
Negotiated interest rate (Percent) 5,50%
Annual interest (case-1) = 5000 * 6.5/ 100= Say ‘x”
Interest for 2.33 years = ‘x” *2.33
Annual interest (case-2 = 5000 * 5.5/100= Say ‘y”
Interest for 2.33 years= ‘y’ * 2.33
Calculation in Excel Worksheet
Annual Int. Annual Int. Annual Savings for
6,50% 5,50% savings 2.33 years
Principal amount \$ 5 000,00 \$ 325,00 \$ 275,00 \$ 50,00 \$ 116,50
Question- 5 PAGE- 3A consumer loan is made at 10.0% over a 3.5 year period. If \$2,125 in interest is paid, what
is the principal? What is the total amount paid by the consumer? Report the results to the
nearest penny.
The amount payable against a loan taken on simple interest is given by the following equation
I = P * r /100 * n
Where
P is the principal
r is the rate of annual interest, and
n is the period in years
Based on above equation ‘ P ‘ = {‘ I ‘/ (r/ 100)} / n = (100 * ‘ I ‘ / r ) / n
i.e.: = ‘I’ * {(100 * 2125 / (10/100)} / n = 2125 * 10 / 3.5
Principal amount (?) = ‘P’
Rate of interest= 10% p.a
Period of loan= 3.5 years
THE ABOVE IS ACCOMPLISHED IN EXCEL AS BELOW:
Rate of interest 10,00%
Period of loan (years) 3,50
Interest paid \$ 2 125,00
Principal amount (?) = ‘p’ \$ 6 071,43

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