Answer:
$954.78
Step-by-step explanation:
Since it increases by 8.5%, all you have to do is multiply 879.98 by 1.085.
879.98 * 1.085 = $954.7783 = $954.78 (you always have to round to two decimal places with money)
Answer:
-19
Step-by-step explanation:
Hope this helps
Answer:
$103968.11
Step-by-step explanation:
Given information:
Principal amount = $240,000
Rate of interest = 1.2% = 0.012
Number of years = 30
Number of times in an year = 24
Formula for amount:
where
P is principal, r is rate of interest, t is number of years, n is number of times interest compounded in a year.
Now,
Hence, the interest is $103968.11.
Amount of tax paid = 43-40 = 3
Tax rate = 3/40 = 0.75
0.75 x 100 = 7.5%
Tax rate = 7.5%
