The most likely solution is 90 because 96-6
First you need to use the compound interest formula to work out the amount of money he had after those two years. To do this you have to make a multiplier for the 14% and you have to put the number of years to the power of the multiplier and of course you need to times the original amount by the multiplier:
(100+14)/100 = 1.14 (making the multiplier)
1250*(1.14)^2 = 1624.5
Then you divide the 1624.5 by 24 to get the equal payments:
1624.5/24 = $67.6875 (rounded to $67.69)
Richard made payments of $67.69 24 times to pay off the loan he had taken out.
Hope this helps! :)
Answer:
Step-by-step explanation:
<em>Refer to attachment for full question</em>
<u>Cost of the tea:</u>
- 80% of spearmint + 20% of peppermint =
- 0.8*$2.25 + 0.2*$2.75 =
- $2.35
<u>Sale price is 1.8 times the cost:</u>
Correct option is B
