1. A chain discount of 15/3/2 results in a net price equivalent rate of _____.
2. The single equivalent discount rate in No. 1 would be _____.
3. A cellular phone had a list price of $250 with a chain discount of 8/6. Calculate the net price and trade discount amount.
4. Complete the following:

   Invoice	Date goods	Terms	Last day of	End of
   Date	recieved		discount period	credit period
   a.July 8		1/10,n/30	?	?
   b.March 8		2/10 EOM	?	?
   c.July 9	Oct 4	3/10,n/30 ROG	?	?
   d.March 26		2/10 EOM	?	?

5. Given the following, calculate cash discount and amount paid:

   Gross amount of invoice including freight, $900
   Freight, $100
   Invoice date, 9/6
   Terms, 1/10 EOMM
   Date of payment, 10/9

6. Calculate the amount to be credited and balance outstanding from the following partial payment information:

Invoice amount, $950
Terms, 2/10, n/60
Invoice date, 9/20
Partial payment date, 9/27
Partial payment, $400

7. A GoodYear Tire Shop received an invoice showing five tires at $40 each, nine tires at $70 each, and 20 tires at $90 each. Shipping terms are FOB shipping point. Freight is $200. Trade discount is 10/9 and a cash discount of 2/10, N/30 is offered. Assuming GoodYear pays within the discount period, what did GoodYear pay?

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