Pannick Motors has projected the following sales for the coming year. 
Sales in the year following this one are projected to be 12 percent greater in each quarter.Assume the company places orders during each quarter equal to 45 percent of projected sales for the next quarter.How much will the firm pay its suppliers in quarter 3 if the firm has a 60-day payables period?
Definitions:
Distributive Property
A fundamental property of algebra stating that a(b + c) = ab + ac, allowing the distribution of multiplication over addition or subtraction.
Distributive Property
A property indicating that for any three numbers, the product of a number and the sum of the other two is equal to the sum of the individual products of the number with each of the other two.
Arithmetic
A branch of mathematics that deals with numbers and the basic operations such as addition, subtraction, multiplication, and division.
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