Assuming the loan is as described, seven-year loan, which means that Kyle does not repay a cent before seven years.
This is a compound interest problem where n=7 years, interest rate i=0.05, and present value P=8000.
At the end of seven years, Kyle will have to pay
Future value = F = P(1+i)^n = 8000(1.05)^7 = 11256.80 (to the nearest cent)
The answer is $7.84
To get the ammount all you need to do is subtract the $4.75 from the dog food $12.59
$12.59-$4.75= $7.84
This is from another website. <span>Simple interest is money you can earn by initially investing some money (the principal). A percentage (the interest) of the principal is added to the principal, making your initial investment grow!</span>
Answer: 4/5=80%
7/8= 87.5%
Step-by-step explanation: 4 divided by 5 is 0.8, meaning the percentage is 80%
7 divided by 8 is 0.875, meaning the percentage is 87.5
Given:
assessment rate = 51%
tax rate = 53.26 per 1,000
53.26 / 1000 = 0.05326
0.05326 x 100% = 5.326%
Effective tax rate = assessment rate * tax rate
ETR = 51% * 5.326%
ETR = 2.72%
