Question:
DeWitt Company sells a kitchen set for $475. To promote July 4, DeWitt ran the following advertisement:
Beginning each hour up to 4 hours we will mark down the kitchen set 10%. At the end of each hour, we will mark up the set 1%.
Assume Ingrid Swenson buys the set 1 hour 50 minutes into the sale. What will Ingrid pay? Round each calculation to the nearest cent.
What is the markdown percent? Round to the nearest hundredth percent.