How many monthly payments must be made to repay an interest - fee loan of 1,540 if monthly payments are $55 each?
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We know for the problem that the performer earned $120 at a performance where 8 people attend. We also know that he u<span>ses 43% of the money earned to pay the costs involved in putting on each performance, so we need to find the 43% of $120. To do that, we are going to divide 43% by 100%, and then multiply it by $120:
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Now we know that the performer uses $51.6 of $120 to pay the costs involved in putting on each performance. The only thing left to find his profits is subtract $51.6 from $120:
We can conclude that the performer makes a profit of $68.4 when 8 people attend his performance.
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Now we know that the performer uses $51.6 of $120 to pay the costs involved in putting on each performance. The only thing left to find his profits is subtract $51.6 from $120:
We can conclude that the performer makes a profit of $68.4 when 8 people attend his performance.