Simple interest means the interest at the end of each year will always be 8% of 2000 (assuming he doesnt pay some of it off), and will not be compounded with the existing interest.
To get a percentage, multiply by the percentage/100, in this case i.e. multiply by 0.08.
2000*0.08 = $160.
Therefore he has $160 of interest each year to pay.
Now we just need to work out how many lots of 160 go into 640, i.e. divide through.
640/160 = 4 - therefore he has had the loan for 4 years.
Answer:
37.7
Step-by-step explanation:
The orginal answer is 37.699
But you want to round the tenth
So 9 to the 6 you want to rasie the score
6 turns into a 7 and the numbers behind it (9 and the other 9) turn into a zero
37.7 or 37.700
Answer:
The total profit earned by the bakery today was of $495.75.
Step-by-step explanation:
Spending:
83 + 7 = 90 cakes made, each costing 6.25. So
Earnings:
83 cakes sold by $12.75, so:
Profit:
Earnings subtracted by spending, so:
The total profit earned by the bakery today was of $495.75.
Answer:
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Step-by-step explanation:
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