Answer:
$73.60
$345
simple interest = amount deposited x time x interest rate
600 + (600 x 0.055 x 5) = $765
600 + (600 x 0.055 x 5) > $2000
$765 $2000
He would not have $2000 in 5 years
Step-by-step explanation:
Total cost of items purchased = $75 + (2 x $8.50) = 92
If there is a 20% discount, he would pay (100 - 20%) 80% of the total cost =
0.8 x $92 = $73.60
commission earned = percentage commission x amount of sales
10% x $3450
= 0.1 x 3450 = 345
Amount he would have in his account = amount deposited + simple interest
simple interest = amount deposited x time x interest rate
600 x 0.055 x 5 = $165
Amount in his account in 5 years = $165 + 600 = $765
He would have less than $2000 in his account. he would have $765
