Find the following quantity. 6% of 124 7.44 0.744 74.4 744
2 answers:
Answer: The correct option is (A) 7.44.
Step-by-step explanation: We are given to find the following quantity :
" 6% of 124."
To evaluate the percentage, we need to divide the expression by 100.
Therefore, the given expression can be evaluated as follows :
Thus, the required value is 7.44.
Option (A) is CORRECT.
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Answer:
The student will have to reimburse 2,991.03 two years later.
Step-by-step explanation:
This is a compound interest problem:
The compound interest formula is given by:
In which A is the amount of money, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per unit t and t is the time the money is invested or borrowed for.
In this problem, we have that:
A is the amount the student will have to reimburse two years later.
P is his loan. so
The bank loans this money at a rate of 9 % capitalized monthly. This means that and
, since the money is compounded monthly, this means, 12 times in a year.
He will have to reimburse two years later, so
The student will have to reimburse 2,991.03 two years later.