Multiple Choice
Which of the following best describes how net sales are calculated if a company sells a property for \$32,000, offers \$2,000 in sales discounts, and has \$1,000 in sales returns?
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4. Merchandising Operations
Net Sales
Multiple Choice
Jocelyn wants to purchase a car with a listed price of \$25,000. If she needs to make a 20\% down payment, how much will she need to save for the down payment, and how much will she need to borrow?
A
Down payment: \$10,000; Amount to borrow: \$15,000
B
Down payment: \$5,000; Amount to borrow: \$20,000
C
Down payment: \$7,500; Amount to borrow: \$17,500
D
Down payment: \$2,500; Amount to borrow: \$22,500
Verified step by step guidance1
Step 1: Understand the problem. Jocelyn wants to purchase a car priced at \$25,000. She needs to make a 20% down payment, and the remaining amount will be borrowed. The task is to calculate the down payment and the borrowing amount.
Step 2: Calculate the down payment. The formula for the down payment is: Down Payment = Listed Price × Down Payment Percentage. Using MathML, the formula can be expressed as:
Step 3: Substitute the values into the formula. The listed price is \$25,000, and the down payment percentage is 20% (or 0.20 in decimal form). Using MathML, this substitution can be expressed as:
Step 4: Calculate the borrowing amount. The formula for the borrowing amount is: Borrowing Amount = Listed Price - Down Payment. Using MathML, the formula can be expressed as:
Step 5: Substitute the values into the borrowing formula. The listed price is \$25,000, and the down payment is the value calculated in Step 3. Using MathML, this substitution can be expressed as:
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