Each pad of paper cost 3.25. Here is how I found it.
21.75 x 3 = 65.25
75 - 65.25 = 9.75
9.75 / 3 = 3.25
X = 3.25
Is this what you were looking for?
Use a/ 1-r
Where a = 18 and r = 1.2
18/ 1 - 1.2 = 18/-.2 = -90
Because the answer is below 1. The sum does not exist therefore it diverges.
Answer:
26%
Step-by-step explanation:
Your 36 monthly payments will total ...
36 × $205.10 = $7383.60
$5860 of that is the amount you borrowed. The remainder is the interest you pay:
$7383.60 -5860 = $1,523.60
As a percentage of the original loan amount this is ...
$1523.60/$5860 × 100% = 26%
You pay back 26% of the original loan amount in interest.
