<span>The term
describes the amount of interest Ramon will pay is APR, annual percent rate
which is 10%. The term annual percentage rate of charge (APR<span>), corresponding sometimes to a nominal </span>APR<span> <span>and sometimes to an effective </span></span>APR<span> <span>(or EAPR), describes the interest rate for a
whole year (annualized), rather than just a monthly fee/rate, as applied on a
loan,<span> </span></span></span></span>
She will be $1.40 under budget.
8% = 8/100 = 0.08
Adding this to 100% of the price of the shoes, we get 108% = 108/100 = 1.08.
We multiply the price of the shoes by this:
45*1.08 = 48.60
Subtract this from 50:
50 - 48.60 = 1.40