Answer:
They will have to sell 62 T-shirts and their cost will be 620$
Step-by-step explanation:
well they only gain 1 dollar every shirt they sell soooooo
62 shirts = 62$ that covers the setup fee
and doing that they will make 620$ bucks.
Hope it helps and if wrong rate 1
.07 x $9,000= $630
$9,000-$630= $8,370 that the bank can lend
Hope this helps
Given:
loan amount = 300
finance charge = 20
term = 14 days.
To solve for APR.
<span>1. Divide the finance charge by the loan amount.
20/300 = 0.0667
2. Multiply the result by 365.
0.0667 x 365 = 24.35
3. Divide the result by the term of the loan.
24.35/14 = 1.74 (APR in decimal format)
<span>
4. Multiply the result by 100.
1.74 x 100 = 174% APR</span></span>
Let the amount deposited (principal) be x, then the amount after the required time = 2x.
A = P(1 + r/n)^nt: where A is the future value = 2x, P is the principal = x, r is the rate = 0.75%, n is the number of accumulation in a year = 12, t is the number of years.
2x = x(1 + 0.0075/12)^12t
2 = (1 + 0.000625)^12t
log 2 = 12t log (1.000625)
log 2 / log (1.000625) = 12t
1109.38 = 12t
t = 92 years
