Answer:
The correct answer is C.
Step-by-step explanation:
The price of a four-star meal, only $50 per couple decades ago, has since increased 400%.
This means that if the $50 per couple is 100%(decimal 1), the current price is 100%+400% = 500%(decimal 5). So we can solve a rule of three to find the current price of a four-star meal.
1 - 50
5 - x

.
The current price of a four star meal is $250 per couple.
The correct answer is C.
Answer: her monthly payments would be $267
Step-by-step explanation:
We would apply the periodic interest rate formula which is expressed as
P = a/[{(1+r)^n]-1}/{r(1+r)^n}]
Where
P represents the monthly payments.
a represents the amount of the loan
r represents the annual rate.
n represents number of monthly payments. Therefore
a = $12000
r = 0.12/12 = 0.01
n = 12 × 5 = 60
Therefore,
P = 12000/[{(1+0.01)^60]-1}/{0.01(1+0.01)^60}]
12000/[{(1.01)^60]-1}/{0.01(1.01)^60}]
P = 12000/{1.817 -1}/[0.01(1.817)]
P = 12000/(0.817/0.01817)
P = 12000/44.96
P = $267