Calculate the Net Price Based on the Information Given Below

question 16

Short Answer

Calculate the net price based on the information given below.
$$\begin{array} { | l | l | l | l | } \hline\text { Item } & \text { List Price } & \text { Chain Discount } & \text { Net Price } \\\hline \text { Sofa } & \$ 1250 & 10 / 5 / 5 / 4 & ?\\\hline\end{array}$$

---

Definitions:

Guaranty

A legal commitment by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults.

Suretyship

A contractual agreement where a party (surety) agrees to be responsible for the debt or obligations of another party (principal) if that party fails to fulfill them.

Cosigner

an individual who agrees to be responsible for the repayment of a loan or debt if the primary borrower fails to pay.

Bankruptcy

A legal procedure for dealing with debt problems of individuals or businesses; officially declared inability to pay off debts.