If you borrowed $646 at an interest rate of 5% for 6 years, how much interest will you pay? Round to the nearest tenth if necess
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Answer:
See below
Step-by-step explanation:
The formula for calculating percent is
% = (cost of item/total cost) × 100 %
% = (cost of item/1875) × 100 %
% = (cost of item/18.75) %
You can use the same formula to calculate the percent for each item in the budget. For example,
Housing: % = 420/18.75 = 22 %
You can do this for each budget item and get the table below.