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3 years ago

If the sales tax rate is 8%, what will be the amount of sales tax on a $42 calculator?

Mathematics

1 answer:

andreyandreev [35.5K]3 years ago

8 0

Rewrite the sales tax as a decimal by moving the decimal point 2 places to the left.

8% = 0.08

Ow multiply that by the price:

42 x 0.08 = 3.36

The sales tax is $3.36

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Jeff drove 5,784.5 miles in 12 days. To the nearest mile, what was the rate of miles Jeff drove each day? A. 482 B. 488 C. 500 D

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3 years ago

The Pirerras are planning to go to Europe 3 years from now and have agreed to set aside $140/month for their trip. If they depos

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Answer:

(a)$5805.21

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Most Expensive Mortgage =$152032.77

Step-by-step explanation:

The future value of an ordinary annuity with deposits P made regularly k times each year for n years, with interest compounded times k per year at an annual rate r, is given as:

$F.V.=\dfrac{P[(1+i)^{kn}-1]}{i}$

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Annual Rate =9.5%

Therefore: Monthly Rate=0.095/12

Years, n=3

Period, k=12

$F.V.=\dfrac{140[(1+\frac{0.095}{12} )^{3*12}-1]}{\frac{0.095}{12} }=\$5805.21$

(b)For the Johnsons, Present value of Mortgage is derived using the formula:

$\Text{Present Lump Sum}, A_0=\dfrac{P[1-(1+i)^{-kt}]}{\frac{r}{k} }$

At $1000 Monthly payment

$\Text{Present Lump Sum}, A_0=\dfrac{1000[1-(1+\frac{0.08}{12} )^{-12*15}]}{\frac{0.08}{12} }=\$104640.59$

Adding a down payment of $16000

Least Expensive Mortgage = 104640.59+16000=$120640.59

At $1300 Monthly Payment

$\Text{Present Lump Sum}, A_0=\dfrac{1300[1-(1+\frac{0.08}{12} )^{-12*15}]}{\frac{0.08}{12} }=\$136032.77$

Adding a down payment of $16000

Most Expensive Mortgage = 136032.77+16000=$152032.77

4 0

3 years ago