John bought the TV for . . . . $1,900
John sold the TV for . . . . . $750
John lost this much on the TV . . . (1,900 - 750) = $1,150
What fraction of the amount he paid did he lose ?
$1,150 / $1,900 = 0.6053 of the amount he paid never came back
What is this fraction as a percentage ?
0.6053 = 60.53 %
Rounded to one decimal place: <em>60.5 % </em>
John took a beating on that TV. I hope he got a lot of good use out of it while he had it.
Answer:
$970. 19
Step-by-step explanation:
Using the compound interest formula Accrued Amount = P (1 + r)^t
where Accrued amount is to be determined
P = principal; $870
r = 3.7% = 0.037
t = number of years = 3
Therefore
Accrued amount = 870 (1 + 0.037)^3
Accrued amount = 870 x 1.037^3
= 870 x 1.1152
= 970. 19
Hence balance of the account at the end of 3 years is $970. 19
