Answer:
120 pounds
Step-by-step explanation:
Since the new cost is 144 pounds and this is 20% more, this is 120% of the original price. Remember 100+20 = 120. To find the original price set up a proportion with these values:
Solve for the original price by cross multiplying numerator with denominator.
x(120) = 144(100)
120x = 14400
x= 120 pounds
Answer:
The correct option is B.
Step-by-step explanation:
The formula for amount after compound interest is
Where P is principal, r is rate of interest, n is number of times interest compounded in a period, t is number of years.
It is given that Felix took out an unsubsidized student loan of $40,000 at a 3.6% APR, compounded monthly. The amount after 33 month is
The amount after 33 month is $44156.1074. So, the new principle amount is $44156.1074.
The monthly payment of $44156.1074 for 20 years is
Where, P.V. is present value, r is rate of interest and n is number of times interest compounded.
Therefore the correct option is B.