Answer:
Retail price = $5.20
Percentage of mark up price = 30%
Step-by-step explanation:
Company sells $4.00 each wholesale.
Now the local store which is the retailer has a markup of $1.20.
This means that the retail price is;
Retail price = wholesale price + mark up = $4.00 + $1.20
Retail price = $5.20
To find the percentage of the markup, it is the fraction of the wholesale price multiplied by 100%.
Thus;
Percentage of Markup is;
1.2/4 × 100% = 30%
In this case, we can summarize that Sam had a bad debt.
<h3>What is a bad debt?</h3>
Bad debt is a liability that one incurs over which they become unable to meet the required financial obligations.
When the ability to make repayments is lacking, Sam is most likely to lose the mortgage (home loan) with the consequential forfeiture of his home.
Thus, we can conclude that Sam did not incur a good debt but a bad debt.
Learn more about bad debts at brainly.com/question/24871617
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-6y=6-8x
y=6-8x/-6
y=-4/3x-1
The distributive property