The total cost for one can is: $25.41.
__________________________________________________
Let us assume that we want to know the total cost of ONE CAN.
_____________________________________________
To calculate our answer:
_______________________________
$ 23.97 + [ (6/100) * 23.97)] = Our answer, in dollars.
__________________________________________
Note: "6%" = 6/100 = 0.06
_______________________
Rewrite as:
____________
$ 23.97 + [ (6/100) * 23.97)] = our answer, in dollars;
_____________________________________________
$ 23.97 + (0.06 * 23.97)
= $ 23.97 + 1.4382
= $ 25.4082 ; Round to decimal places, to get:
<span>→ $ 25.41
</span>__________________________________________
A=P(1+r/100)^n
A=500(1+4/400)^24
A=500(1.01)^24
A=634.87
