1. **Problem 1: Find the list price given a net cost after a series discount of 5/12/12 and net cost $2148.28** Step 1: Understand the series discount. The discounts are 5%, then 12%, then 12% applied sequentially. Step 2: Let the list price be $P$. Step 3: After the first 5% discount, price becomes $$P \times (1 - 0.05) = 0.95P$$ Step 4: After the second 12% discount, price becomes $$0.95P \times (1 - 0.12) = 0.95P \times 0.88 = 0.836P$$ Step 5: After the third 12% discount, price becomes $$0.836P \times (1 - 0.12) = 0.836P \times 0.88 = 0.73568P$$ Step 6: The net cost after all discounts is given as $2148.28$, so $$0.73568P = 2148.28$$ Step 7: Solve for $P$: $$P = \frac{2148.28}{0.73568} \approx 2921.18$$ **Answer for Problem 1:** The list price is approximately $2921.18$. 2. **Problem 2: Invoice calculations for Gourmet Kitchen Wholesaler** Given: - Date: August 24, 2025 - Terms: 3/10, 2/20, n/30 (3% discount if paid within 10 days, 2% if within 20 days, net due in 30 days) - Payment date: September 2, 2025 - Shipping and insurance: $46.20 Items: - 5 Electric mixers @34.95 each - 5 Mixing bowl sets @21.80 each - 10 Canister sets @34.70 each - 25 Rolling pins @12.90 each **a) Find the invoice total:** Calculate each extension total: - Electric mixers: $$5 \times 34.95 = 174.75$$ - Mixing bowl sets: $$5 \times 21.80 = 109.00$$ - Canister sets: $$10 \times 34.70 = 347.00$$ - Rolling pins: $$25 \times 12.90 = 322.50$$ Sum all: $$174.75 + 109.00 + 347.00 + 322.50 = 953.25$$ **Invoice total = 953.25** **b) Find the amount to be paid after cash discount:** Step 1: Determine if payment qualifies for discount. Invoice date: August 24, 2025 Payment date: September 2, 2025 Days between: August 24 to September 2 is 9 days in August (25-31) + 2 days in September = 9 + 2 = 11 days Since payment is made on day 11, it is after 10 days but within 20 days, so 2% discount applies. Step 2: Calculate 2% discount on invoice total: $$2\% \text{ of } 953.25 = 0.02 \times 953.25 = 19.065$$ Step 3: Amount after discount: $$953.25 - 19.065 = 934.185$$ Rounded to two decimals: $934.19$ **c) Find total amount due including shipping and insurance:** Add shipping and insurance cost: $$934.19 + 46.20 = 980.39$$ **Answer for Problem 2:** (a) Invoice total = 953.25 (b) Amount after cash discount = 934.19 (c) Total amount due including shipping and insurance = 980.39