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KATRIN_1 [288]
2 years ago
11

Luis wants to buy a skateboard that usually sells for $79.74. All merchandise is discounted by 12%. What is the total cost of th

e skateboard if Luis has to pay a state sales tax of 7.25%. Round your intermediate calculations and answer to the nearest cent.
Mathematics
1 answer:
eduard2 years ago
7 0

Answer:

75.26

Step-by-step explanation:

Most sales taxes work by not being calculated until cash in some form changes hands. So you take the discount first and then you add the sales tax on the new amount.

Take the discount first

Original cost = 79.74

Discount amount = 79.74 * 12% = 79.74 * 12/100 = 9.57

New price = 79.74 - 9.57 = 70.17

Now you are ready to add on the sales tax

70.17 * 7.25/100 = 5.09

The total is 70.17 + 5.09 = 75.26

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Step-by-step explanation:

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Find the savings plan balance after 2 years with an APR of 4% and monthly payments of $250. The balance is $ (Do not round until
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Answer:

$6,506.51

Step-by-step explanation:

Recall that increasing an amount C in x% is equivalent to multiply it by (1+x/100)

As we have 4% APR, the monthly interest would be (4/12)% = 0.04/12

<u>Month 0</u> (first payment)

$250

Month 1

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<u>Month 2</u>

250(1+\frac{12.04}{12}+(\frac{12.04}{12})^2)

<u>Month 3</u>

250(1+\frac{12.04}{12}+(\frac{12.04}{12})^2+(\frac{12.04}{12})^3)

<u>Month 24 (2 years)</u>

250(1+\frac{12.04}{12}+(\frac{12.04}{12})^2+(\frac{12.04}{12})^3+...+(\frac{12.04}{12})^{24})

The sum  

1+\frac{12.04}{12}+(\frac{12.04}{12})^2+(\frac{12.04}{12})^3+...+(\frac{12.04}{12})^{24}

is the sum of the first 24 terms of a geometric sequence with common ratio \frac{12.04}{12} which is

\frac{1-(12.04/12)^{25}}{1-(12.04/12)}=26.02603071

so, after 2 years the saving balance is

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3 years ago
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