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gulaghasi [49]
3 years ago
15

Tyrone and Terri both bought sofas with installment loans. Tyrone bought a sofa with a

Mathematics
1 answer:
Minchanka [31]3 years ago
6 0

Answer:

Tyrone paid the higher markup rate.

Step-by-step explanation:

Tyrone and Terri both bought sofas with installment loans.

Tyrone bought his own with a sticker price of $1350 by paying $74 a month for 24 months. Therefore,

74 × 24 = $1776

The mark up = $1776  -  $1350 = $426

Tyrone markup rate = 426/24 = $17.75  per month

Terri bought his own with sticker price of $950 by paying $52 a month for 24 months. Therefore,

52 × 24 = $1248

mark up = $1248  - $950  = $298

Terri markup rate = 298/24 = $12.4166666667  = $12.42 per month

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