Please help with the following problem about trade and discount. Provide step by step calculations.
I. You have received an invoice for computer equipment. On the invoice you have ordered 35 servers for a list price of $1200 each. The invoice shows a trade discount series of 3/8/5. Find the net price and the discount of the computer equipment.
II. The same invoice in part I, gives another option of a total of 16% discount. Are the net prices and the discount for the computer equipment the same? Explain.
Objective: Calculate trade and cash discounts and calculate interest and interest rates.