Answer:
$167.2
Step-by-step explanation:
It has been given that the price of a new computer is $800.00 and refurbished computer with the same equipment has a price of $640.00.
Let us find the amount that we will save with a refurbished computer if we put the difference into the savings account for a year using simple interest formula.
, where A= Amount after t years, P=principal amount, r = interest rate (decimal form) and t=time.
Our principal amount will be the difference of prices of new computer and refurbished computer.
Upon substituting our given values in above formula we will get,
Therefore, we will save $167.2 with refurbished computer when we put the difference into the savings account for a year.
