If 100% is 20,000, then 50% would be 10,000. But we have to find the cost of 20%. So what we would actually be doing is multiplying 20 with 0.01. 20x0.01 is 0.2 or 0.20.

Then you add the 4,000 to the 20,000 because it states, “the next day, they sold the car 20% more than they paid. This means that you’ll have to add it. 20,000 plus 4000 would be 24,000. So 24,000 would be the cost of the car they sold.

However they didn’t wanna know the cost of the car, they wanted to know how much Sara would get. So you would have to take 9% of the cost of the cost which would be 2,160.

Final result: $2,160

4 0

2 years ago

1.08t can be written as (1.081/12)12t to give the approximate equivalent monthly interest rate based on an annual rate of 8%. Us

kobusy [5.1K]

Because t is given in years and 1.08 = 1 + 0.08, the annual percent increase
is 8%.
To find the monthly percent increase that gives an 8% annual increase,
use the fact that
t = $\frac{1}{12} * 12 t$ 
and the properties of exponents to rewrite the
model in a form that reveals the monthly growth rate.

$1.08^{t} 
= 1.08^{(1/12)(12t)} 
= (1.08^{1/12}) ^{12t} 
= 1.0064634^{12t}$

6 0

2 years ago

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