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Henry paid a total of $360 for the dishwasher: $20 + (10 x $34) = $20 + $340= $360
Therefore he paid $40 extra which we place over the original amount of the dishwasher:
Dividing 1 by 8 we get .125 which, when changed to a percentage becomes 12.5%
Henry paid a yearly interest rate of 12.5%
Therefore he paid $40 extra which we place over the original amount of the dishwasher:
Dividing 1 by 8 we get .125 which, when changed to a percentage becomes 12.5%
Henry paid a yearly interest rate of 12.5%