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Illusion [34]
3 years ago
8

Sarah bought a lawnmower for $320. She signed up for the buy now pay later plan at the store with the following conditions: $100

down and payments of $25 for the next 12 months. The extra cost paid by taking this plan is equivalent to what actual yearly rate of interest? A. 85%
B. 65%
C. 67%
D. 25%
Student Answer: D
Answer: Incorrect
Mathematics
2 answers:
ANEK [815]3 years ago
6 0

100 down+25 x 12 months
100+25 x 12
100+300
400

400-320=80

find percent increase since it is 1 year
80/320=8/32=4/16=2/8=1/4=0.25/1 

 100
<span>0.25/1 times 100/100=25/100=25%

So, Our answer is D</span>
Karolina [17]3 years ago
4 0
The correct answer is C. 67%
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