1st question
$23,760-(4000+6000)=$13,760
$13,760 x 4%=$ 550.40
2nd question
$43,300-(2000+2000)= $39,300
$39,300 x 5%= $1,965
Number of ounces left is 1120
Step-by-step explanation:
- Step 1: Find number of ounces left after each day.
Given total soup prepared each day = 15 gallons
Amount served each day = 1/4 of 15 = 15/4 gallons
Amount left after each day = 15 - 15/4 = 60 - 15/4 = 35/4 gallons
- Step 2: Convert gallons into ounces. 1 gallon = 128 ounces
35/4 gallons = 35/4 × 128 = 1120 ounces
Answer: the total lifetime cost for the loan is $11616.4
Step-by-step explanation:
We would apply the formula for determining compound interest which is expressed as
A = P(1+r/n)^nt
Where
A = total cost of the loan at the end of t years.
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount borrowed.
From the information given,
P = $5,500
r = 7.5% = 7.5/100 = 0.075
n = 12 because it was compounded 12 times in a year.
t = 10 years
Therefore,
A = 5500(1 + 0.075/12)^12 × 10
A = 5500(1 + 0.00625)^120
A = 5500(1.00625)^120
A = $11616.4
I'm not 100% sure but try A.
