Answer:
He paid $1.11
Step-by-step explanation:
2.50 * 0.4 (he paid for 40% of the original price, since it was a 60% discount) = 1
1 * 0.11 (11% sales tax) = 0.11
1 + 0.11 = 1.11
Parallel lines have the same slope.
So I plug in the -5 and -4
-4 = 1/2(-5) + b
-4 = -2.5 + b
b = -1.5
So I get y = 1/2x - 3/2
What we know:
Acct. balance A (11)= $2,976.45
Pricipal=$1,963.45
Compounded (n)=quarterly (4)
rate=r
Compound interest formula: A (t)=p (1+r/n)^nt
What we need toi find:
If the interest compounds quarterly, what is the interest rate on the account? Find r.
A (t)=p (1+r/n)^nt
2976.45=1963.45 (1+r/4)^(4×11)
2976.45=1963.45 (1+r/4)^44
2976.45/1963.45=1963.45/1963.45 (1+r/4)^44
1.5159=(1+r/4)^44
(1.5159)^(1/44)=((1+r/4)^44)^(1/44)
1.0095=1+r/4
1.0095-1=1-1+r/4
.0095=r/4
.0095(4)=r/4 (4)
.038=r
Rate = 3.8%
