Answer:
15.14%
Step-by-step explanation:
The formula for APR is stated thus:
APR=fees+interest/principal/n*365*100
principal is the loan amount of $700
fees is the processing fees on the loan which is $50
interest amount=principal*interest %=$700*8%=$56
n is the number of days of the loan which is a year i.e 365 days
APR=($50+$56)/$700/365*365*100
APR=$106/$700/365*365*100
APR=0.151428571
/365*365*100
APR=0.151428571
*100=15.14%
The annual percentage rate on the loan is 15.14% which represents the actual cost on the loan not just the interest cost of 8% annually
This differs on what number you want to talk about. 1 is the hundreds, 8 is the tenths, 7 is the ones.
Answer:
$1.5
Step-by-step explanation:
if each dozen cost $18, we need to divide.......18/12........because 12 is a dozen.
18/12 = 1.5
Answer:
.055
Step-by-step explanation:
Answer:
The total cost was $182.91.
Step-by-step explanation:
Tax formula:
tax=tax percentage×amount
Tip formula:
tip=tip percentage×amount
solve
First find the tax. Write 14% as the decimal 0.14 before using it in the equation.
tax
= tax percentage×amount
= 0.14×136.50
= 19.11
The tax was $19.11.
Now find the tip. Write 20% as the decimal 0.20 before using it in the equation.
tip
= tip percentage×amount
= 0.20×136.50
= 27.3
The tip was $27.30.
Finally, find the total cost.
total cost
= cost + tax+tip
= 136.50+19.11+27.30
= 182.91
