Answer:
$960
Step-by-step explanation:
Let the original amount be = x
Percentage increase is equal to = 12.5%
final amount = original amount + increase
final amount = x + 0.125x
final amount = 1.125x
final amount = 1080 = 1.125x
and then solve for x
so in the end x is equal to $960
Solve the equation: 1080 = 1.25x
Using compound interest, it is found that the maximum amount of money he can borrow is of $8,700.
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The compound interest formula is given by:
Maximum <u>monthly payments of $200 per month per five years</u>, thus:
To the nearest 100, $8,700.
The maximum amount of money he can borrow is of $8,700.
A similar problem is given at brainly.com/question/15340331
Given:
Daniel bought a bicycle for $80 and a helmet for $20.
Sales tax = 5%
To find:
The total amount of both items including tax.
Solution:
Price of bicycle (excluding tax)=
Price of helmet(excluding tax) =
Price of both items =
=
Now, the sales tax is 5%. So,
Price of both items (including tax) =
=
=
Therefore, the Daniel pays $105 for the two items, including tax.