Question

Hakim invests $700 in a bank that pays 5% simple interest annually. After one year he uses the money in his account to buy a computer. The original cost of the computer is $750.00. The computer is on sale for a 20% discount off of the original cost. The sales tax is 4% of the sale price. After purchasing the computer, how much does Hakim have left in his bank account? Show your work.

Answer 1

I believe that he would have $111 left in his account.