Sheri’s cab fare was $32, with a 20% gratuity and no taxes. Sheri wrote a check to the cab driver for $40.
3 answers:
Yes, $40 is a reasonable amount to pay for the cab fare.
<em><u>Explanation</u></em>
Sheri’s cab fare was $32 and the percentage of gratuity is 20%
So, the amount of gratuity will be:
Thus, <u>the fare of the cab including the gratuity</u> will be:
As Sheri wrote a check to the cab driver for $40 , it means she paying ($40 - $38.40) or <u>$1.60 more to the cab driver</u>. So, the $40 check is a reasonable amount to pay for the cab fare.
You might be interested in
The required equation is y = 10000(1.0.25)^2x. The value of Christina’s investment after 20 years is $30,773.14
Compound interest
The interest accrued on a sum of money is known as interest. The formula for calculating the compound interest is expressed as:
y = y0(1+r/n)^nx
where
x is the time taken
r is the rate in decimal
n is the compounding time
Given the following
x = 20 years
n 2(semi annually)
r = 5.7% = 0.057
Substitute
y = 10000(1+0.057/2)^2(20)
y = 10,000(1 + 0.0285)^40
y = 10000(1.0285)^40
y = 30,773.14
Hence the value of Christina’s investment after 20 years is $30,773.14
Learn more on compound interest here: brainly.com/question/24924853
