Answer:
Step-by-step explanation:
Answer:
The rate of interest is 20% and the sum is $3,750
Step-by-step explanation:
In order to calculate the sum and rate of interest we would have to make the following calculation:
rate of interest= (sum in 4 years-sum in 3 years)*100/sum in 3 years*1
According to the given data we have the following:
sum in 4 years=$7,776
sum in 3 years=$6,480
Therefore, sum in 4 years-sum in 3 years=$7,776-$6,480=$1,296
Therefore, rate of interest=$1,296*100/$6,480*1
rate of interest=20%
To calculate the sum we would have to make the following calculation:
FV=PV(1+20%)∧3
$6,480=PV(1,20)∧3
PV=$3,750
Sum is $3,750
There are two costs involved:
1) the cost for lunch, which is given as a rate per student: $7.25/student
2) the cost for the trip which is $443.75 to be divided by the 25 students, so it is $443.75 / 25 = $17.75/student
Now, you can add up those two costs per student to have the total cost per student:
$7.25 + $17.75 = $25.00/student
Answer: $25.00
Answer: IT EQUALS 2
Step-by-step explanation:
