If markup is 60% of the cost, you have
... markup = 0.60×cost
... markup/0.60 = cost
... $207.20/0.60 = cost = $345.33
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If markup is 60% of the selling price, the other 40% is the cost. So, the cost is 40/60 = 2/3 of the markup.
... cost = (2/3)×markup = (2/3)×$207.20
... cost = $138.13
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Markup can be specified in terms of either selling price or cost. Those are the usual reference values; there could be others. When only the percentage is given, you don't have enough information to work the problem. You need to know what it is a percentage of. (Example problems in your text may tell you the expected interpretation.)
Answer: The sum of rational and irrational number is always irrational...
Answer:
Jacki did not subtract 12 from 8 correctly i believe
Answer:
Mid point
Step-by-step explanation:
And the new year will be the same for you as you are in a good place for you to be a good fit in your life for the best in your career in the future to make you your business and you want to be a part weet for your business goals is a very important important thing you e your business needs to for your business to life with your own personal life in and out around the the world you want it for
Answer:
- monthly payment: $304.15
- total interest: $3249.00
Step-by-step explanation:
Using the time-value-of-money functions on your calculator, you can find the monthly payment to be $304.15.
The calculator function requires several inputs. There are 12 payments per year for 5 years, for a total of 60 monthly payments. As the problem statement tells you, the present value is 15,000, the interest rate is 8%. You want the remaining amount due after 5 years (the future value) to be zero. There are 12 payments per year, and interest is compounded 12 times per year.
After finding the monthly payment, you can find the total amount repaid by multiplying it by 60 (the number of months). Then the interest paid is the difference between that ($18249.00) and the initial loan amount ($15,000.00).
... $18,249 -15,000 = $3,249.00
The attachment shows what these calculations look like on a TI-84 calculator.