The answer is option B. The real answer is 8.5, not 0.85
Answer:
Mike can go 124 miles
Step-by-step explanation:
Car rent = $29.20
However, a customer has to pay $0.20 for every mile.
Mike has $54 to spend on the car for a day.
If he pays the car rent which is $29.20, then he has
$54 - $29.20 = $24.80 remaining
1 mile = $0.20
x miles = $24.80
By cross multiplication
0.20x = 1 * 24.80
x = 24.80/0.20
x = 124 miles
The formula to be followed for the calculation of simple interest is F = P (1 + in) where F is the future worth, P is the present worth, i s the annual interest rate and n is the number of years. In this case, F = $275 * (1+ 0.08*16) = $627. The interest earned is $627 - <span>$275 equal to $352.</span>