What is the simple interest on a loan of $310 for 4 months at 12% per year ?
2 answers:
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Answer:
1. Total spent on transportation $222.2.
2. $ 192.5
3. She spends $30 over the guideline.
Step-by-step explanation:
As per the image attached:
Total monthly spent on transportation = Total monthly car payment + Spent on gas fuel
Total monthly spent on transportation = 120 + 37.9 + 28.4 + 35.9 = $222.2
So, Answer 1. Abby's total spent on transportation = $222.2
Calculating the percentage:
Calculating 11% as per the guideline:
Answer 2. As per the guideline, she should spend $192.5 on transportation.
Difference between spending and guideline = $222.2 - $192.5 = $29.7
Answer 3. She spends $29.7 over the guideline.