after a series discount of 11/12/11, the net ...
after a series discount of 11/12/11, the net cost of a computer system is $928.02. what is the list price? the list price of the system is $ (round to the nearest cent as needed.)
Answer
# Explanation:
## Step1: Calculate the net - price factor
The discounts are 11%, 12%, and 11%. The complement of a discount rate is used to find the net - price factor.
The complement of 11% (or 0.11) is $1 - 0.11=0.89$, the complement of 12% (or 0.12) is $1 - 0.12 = 0.88$, and the complement of 11% (or 0.11) is $1 - 0.11=0.89$.
The net - price factor $N$ is the product of these complements: $N=0.89\times0.88\times0.89$.
$N = 0.89\times0.88\times0.89=0.89\times0.7832 = 0.697048$.
## Step2: Find the list price
Let the list price be $L$. We know that the net cost $C$ is related to the list price by the formula $C = L\times N$.
We are given that $C = 928.02$ and $N=0.697048$.
To find $L$, we can rewrite the formula as $L=\frac{C}{N}$.
$L=\frac{928.02}{0.697048}\approx1331.30$.
# Answer:
$1331.30$