An invoice in the amount of 916 is subject to a trade discount of ...

[luvbio]

An invoice in the amount of 916 is subject to a trade discount of 10 and credit terms of 3/10, n/30 . The amount of the trade discount would be
 a. 24.73.
   b. 27.48.
   c. 91.60.
   d. 824.40.

Question 2

B. Row, Inc needed some long-term financing and arranged for a 10-year, 100,000, 7 mortgage loan on January 1, 2010. Annual payments of 14,238 will be made on December 31 each year.
 
  After the first payment, Mortgage payable will have a balance of ________.
  A) 100,000
  B) 85,762
  C) 92,762
  D) 93,000

[Dominic]

Answer to Question 1

c

Answer to Question 2

C