Edith is shopping for a new leather couch. Jordan’s Furniture has one that costs $3,000. However, this weekend she can get a 15%
1 answer:
Answer: D $450
Step-by-step explanation:
Given: Edith is shopping for a new leather couch.
The cost price of furniture = $3,000
Discount Percent= 15%
Discount amount= 15% of $3000
Thus, Discount amount=
Hence, Discount amount=$450
Since its the discount amount which Edith save if she buys the couch this weekend.
Hence, she save $450 save if she buys the couch this weekend.
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It will take 54 days for Teri's account to earn an amount of $5000.
<h3>What is compound interest?</h3>Compound interest, also known as interest on principal and interest, is the practice of adding interest to the principal amount of a loan or deposit.
It occurs when interest is reinvested, or added to the loaned capital rather than paid out, or when the borrower is required to pay it, so that interest is generated the next period on the principal amount plus any accumulated interest. In finance and economics, compound interest is common.
It is given by formula
A =
where:
A is final amount
p is principal amount
r is rate of interest and
t, is time period
Given: A= $5000, p=$1500, r=2.25% = 0.0225
To find: time period to get compounded amount
5000=1500×
=
0.0225t = ㏑ ()
t = 53.5099 ≈ 54 days
Learn more about compound interest here:
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