If an item has a retail price = $475 and a discount of $45, what percentage discount is offered?
1 answer:
Answer:
A 9.47% discount was given
Step-by-step explanation:
The question is asking us to find how much percent of 475 is 45. Therefore we do the following:
after dividing we get 9.473 which is approximately 9.47%
To check if what we got is correct we do the opposite and instead find 9.47% of 475.
After dividing we find that is equal to 44.98 which is approximately 45.
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Answer:
$2,459.21
Step-by-step explanation:
(see attached for reference)
recall that the formula for compound interest is:
A = P [ 1 + (r/n)^ (nt) ]
where,
A = Final amount ( we are asked to find this)
P = principal amount = given as $2,340
r = Annual Interest Rate = given as 5% = 0.05
n = number of times compounded in a year = 4 (compounded quarterly)
t= time = 1 year
Substituting the values into the equation,
A = P [ 1 + (r/n)^ (nt) ]
A = 2,340 [ 1 + (0.05/4)^ (4·1) ]
A = $2,459.21
