Business Math?

Question

I need help with some business math questions as follows:

An invoice for $870 was dated Sept. 22 and contained terms of 3/10, n/30. What amount of money would be necessary to pay the invoice if the discount is taken?
choices
$609.00
$678.60
$783.00
$843.90

Roland can buy a freezer for $489 cash, or on the plan by paying $96 down and making 12 monthly payments of $38 each. Since Roland has $96 cash, he can borrow the balance from the bank for one year at 8% interest. What amount of money does Roland save by borrowing from the bank and paying cash instead of paying on the plan?
choices
$31.44
$31.56
$33.00
$63.00

The materials used to build 100 cabinets cost a factory $2790. Salaries and wages charged to the job amounted to $4276 and factory overhead was $743. What was the average cost per cabinet?
$63.23
$.63.32
$78.09
$78.90

A check for $111.55 was drawn in payment of an invoice amounting $115.00 less a cash discount. What rate of cash discount was allowed
choices
2%
3%
4%
5%

Answer 1

An invoice for $870 was dated Sept. 22 and contained terms of 3/10, n/30. What amount of money would be necessary to pay the invoice if the discount is taken?
Answer : $843.90
Terms of 3/10 means you get a 3% discount if paid within 10 days. 3% off $870 is $26.10, so the amt payable is $843.90.

Roland can buy a freezer for $489 cash, or on the plan by paying $96 down and making 12 monthly payments of $38 each. Since Roland has $96 cash, he can borrow the balance from the bank for one year at 8% interest. What amount of money does Roland save by borrowing from the bank and paying cash instead of paying on the plan?
Answer : $31.56
If he borrows the bal. $393 from the bank at 8%, he must repay $424.44 in all. Plus the downpayment of $96, his freezer will cost him $520.44 if paid for it in cash.

If he put down $96 plus make 12 payments of $38 each, his freezer will cost him $552.

So by borrowing from the bank, he saves $552 - $520.44 = $31.56.

The materials used to build 100 cabinets cost a factory $2790. Salaries and wages charged to the job amounted to $4276 and factory overhead was $743. What was the average cost per cabinet?
Answer : $78.09
Total materials, labour and overhead to make the 100 cabinets = $2,790 + $4,276 + $743 = $7,809. So each cabinet costs $78.09 to make.

A check for $111.55 was drawn in payment of an invoice amounting $115.00 less a cash discount. What rate of cash discount was allowed
Answer : 3%
The discount was $115 - $111.55 = $3.45. $3.45 divided by the original price of $115 gives you 3%.

Answer 2

1 - $609
2 - $31.56
3 - $78.09
4 - 3%