What is the compound interest on investing $600 for 3 years at 7% per annum?
1 answer:
You might be interested in
Answer:
a. We spent all together 40.2+24.5+37.8=$102.50.
b. We saved 19.8+10.5+7.2=$37.50
c.
Step-by-step explanation:
To find the amount we spend, we multiply the original price by the decimal conversion of each fraction. Then we add the amounts together.
- Sneakers cost $60 and you bought them at 2/3=0.6666....
60(0.67)=$40.20 and saved $19.80
- Sweater costs $35 and you bought it at 7/10=0.7
35(0.7)=$24.50 and saved $10.50
- A jacket costs $45 and you bought it at 5/6=0.8333...
45(0.84)=$37.80 and saved $7.20
We spent all together 40.2+24.5+37.8=$102.50.
We saved 19.8+10.5+7.2=$37.50
We could of spent paying regular price 60+35+45=$140. To find the fraction we place the total we actually paid over the total regular price.