Help please I don’t understand
2 answers:
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Answer:
$4080
Step-by-step explanation:
We have the amount she will pay back, but first, we need to find the Interest accrued.
Simple Interest is given as:
where P = principal
R = rate
T = time taken (in years)
Therefore, the interest on $3,000 at 9% simple interest for 4 years is:
I = $1080
Therefore, the amount she will pay back is:
$3000 + $1080 = $4080
The total amount of his commission for these vehicles is $ 1686
<em><u>Solution:</u></em>
Given that,
Miles earns a 6% commission on each vehicle he sells
Therefore,
Commission rate = 6 %
Today he sold a truck for $18,500 and a car for $9,600
Therefore,
Commission amount = 6 % of (18500 + 9600)
Commission amount = 6 % of 28100
Calculate the above equation
Thus the total amount of his commission for these vehicles is $ 1686