Answer:
10.5 %
<u>Skills needed: Financial Math Essentials</u>
Step-by-step explanation:
1) First, before getting started, let's assume the price of the product is 
. This variable will be used a lot throughout the problem ().
2) Marking a price above means increasing the price in order to make money off of the purchased product. When raising something by 
percent, the new price would be 
.
---> In this case, the price increased by 
percent.
This means that it would be: 
New price is: 
3) The shopkeeper is then offering a 
percent discount off of this marked price. When offering a 
percent discount price, the new price (with discount), expressed algebraically is: 
---> the expression above simplifies to 
In this case, 
, 
---> 
This means that , with discount, has been raised 
.
10.5 % is the profit percent
(The profit percent being the final marked up price - purchased price)
Answer:
$27,840 is the correct answer
Step-by-step explanation:
hope this helps!
Answer:
Step-by-step explanation:
We will use 2 coordinates from the table along with the standard form for an exponential function to write the equation that models that data. The standard form for an exponential function is
where x and y are coordinates from the table, a is the initial value, and b is the growth/decay rate. I will use the first 2 coordinates from the table: (0, 3) and (1, 1.5)
Solving first for a:
. Sine anything in the world raised to a power of 0 is 1, we can determine that
a = 3. Using that value along with the x and y from the second coordinate I chose, I can then solve for b:
. Since b to the first is just b:
1.5 = 3b so
b = .5
Filling in our model:
Since the value for b is greater than 0 but less than 1 (in other words a fraction smaller than 1), this table represents a decay function.
