We solve the question as follows:
Simple interest=Principle×Rate×Time
Thus given:
p=$55000, R=2.5%, time= 1 year
thus
Interest=55000×0.025×1=$1375
To evaluate the amount required to keep up with the inflation, your interest rate should match the inflation rate otherwise prices are going up faster than the savings.
Required interest rate=55000×0.034×1=$1870
The buying power lost will be the difference between your required interest and actual interest.
Thus:
Buying power lost=1870-1375=$495
Substitute a number for each variable
Ex.
2x x=5
(2)(5)
=10
Answer:
His estimate is somewhat low.
Step-by-step explanation:
The total bill is $9.50 +3.50 = $13.00. The estimated tip is 15% of $10, so Jamal needs to add 15% of $3, or $0.45, to his estimate to leave a tip equal to 15% of the bill.
The tip Jamal has calculated is about 11.5% of the bill. (1.50/13.00 ≈ 0.1154)
The tip Jamal wants to leave is $1.95. (0.15·13.00 = 1.95)
Answer:
About -6
Step-by-step explanation: