The answer would be C. 73.6. If you use the correct math without rounding it would be 73.5792. Hope this helps!
You are told to ignore the amount of principal paid, so you are apparently to assume the loan amount was for $50 thousand.
a) The old monthly payment was $10.67×50 = $533.50
b) The new monthly payment is $11.72×50 = $586.00
c) The increase in monthly payment is figured in the usual way:
... (new/old -1)×100% = (1.0984-1)×100% = 9.84%
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In reality, about 3% of the loan will have been paid at the end of 2 years. Thus, the original loan amount may have been near $51,500. This problem is telling you to ignore the difference.
1.) 24 pack for $6.88
2.) 12 oz box for $2.15
3.) 16 pound turkey for $20.00
4.) $1.60 per notebook
