Colleen buys a movie for $20 and pays 7% sales tax. Her cousin, Brad, lives in another state. Brad buys the same movie for $22 a
2 answers:
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Using simple interest, it is found that:
- The total amount paid was of $7,084.8.
- The finance charge was of $584.8.
- The simple interest rate was of 3%.
Simple interest is used when there is a single compounding per time period.
The amount of interest after t years in is modeled by:
In which:
- P is the initial amount.
- r is the interest rate, as a decimal.
In this problem, the amount paid was of 36 monthly payments of
$196.80, hence:
36 x 196.80 = $7084.8.
The total amount paid was of $7,084.8.
The original price is of $6,500, hence the finance charge was of:
7084.8 - 6500 = $584.8.
For interest, we have that:
, hence:
The simple interest rate was of 3%.
More can be learned about simple interest at brainly.com/question/25296782
Answer:
12.5%
Step-by-step explanation:
First we need to calculate the change in the area of Terry's room this is
108 ft2 - 96 ft2 = 12 ft2
Then we use a direct proportion in order to find the percentage
96 ft2 ----- 100%
12 ft2 ----- p?
Solvin for p we have that
p=12.5