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Let's work through the problem step by step.

### Problem Breakdown:
1. The **wholesale price** of each souvenir is **$7.00**.
2. The **retail price** is 290% of the wholesale price.
3. At the end of the season, any remaining souvenirs are discounted by **80% off the retail price**.

### Steps to solve:

1. **Calculate the retail price**:
   \[
   \text{Retail Price} = 290\% \text{ of Wholesale Price}
   \]
   \[
   \text{Retail Price} = 2.90 \times 7.00 = 20.30 \text{ dollars}
   \]

2. **Apply the discount**:
   The discount is 80% off, meaning the remaining price is 20% of the retail price.
   \[
   \text{Discounted Price} = 20\% \text{ of Retail Price}
   \]
   \[
   \text{Discounted Price} = 0.20 \times 20.30 = 4.06 \text{ dollars}
   \]

### Final Answer:
The discounted price of each remaining souvenir is **$4.06**.

Would you like further clarification on any part of this solution?

### Follow-up Questions:
1. How do you convert percentages into decimals for calculations?
2. What does it mean when an item is marked down by a certain percentage?
3. Can you explain the difference between wholesale and retail pricing?
4. How would the answer change if the discount was only 50% off the retail price?
5. Why is it important for businesses to use markups and discounts?

**Tip**: Always double-check your calculations when working with percentages, as small errors can lead to significant differences in final prices.

A gift shop buys souvenirs at a wholesale price of 7.00 dollars each and resells them each at a retail price that is 290% of the wholesale price. At the end of the season, any remaining souvenirs are marked at a discounted price that is 80% off the retail price. What is the discounted price of each remaining souvenir, in dollars?

Learn how to calculate the discounted price of souvenirs bought at a wholesale price of $7.00 and marked down by 80% off the retail price, which is 290% of the wholesale cost. Perfect for middle school students learning percentage and discount applications.

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