The price of a coat is $114 before sales tax . The sales tax is 7%. Find the total cost of the coat

A customer borrowed $2000 and then a further $1000 both repayable in 12 months. What should he have saved if he had taken out on

Neporo4naja [7]

Answer:

a. $60

Step-by-step explanation:

We will use simple interest formula to solve our given problem.

$A=P(1+rt)$ , where

A= Amount after t years.

P= Principal amount.

r= Interest rate in decimal form.

t= Time in years.

Let us find amount of loans repayable after 12 months for taking two amounts of $2000 and $1000.

As $2000 and $1000 are less than 2500, so the rate of loan will be 10%.

$10\%=\frac{10}{100}=0.10$

12 months = 1 year.

$A=2000(1+0.10\times 1)$

$A=2000(1+0.10)$

$A=2000(1.10)$

$A=2200$

Now let us find amount repayable after 12 months for borrowing $1000.

$A=1000(1+0.10\times 1)$

$A=1000(1+0.10)$

$A=1000(1.10)$

$A=1100$

Adding these amounts we will get total repayable amount after 12 months for borrowing $2000 and $1000 separately.

$\text{Amount repayable for borrowing two separate amounts}=2200+1100=3300$

Now let us find repayable amount after 12 months for taking 1 loan. As $3000 is between $2501 and $7500, so rate of loan will be 8%.

$8\%=\frac{8}{100}=0.08$

$A=3000(1+0.08\times 1)$

$A=3000(1+0.08)$

$A=3000(1.08)$

$A=3240$

Now let us find difference between both repayable loan amounts.

$\text{Difference between both repayable loan amounts}=3300-3240$

$\text{Difference between both repayable loan amounts}=60$

Therefore, the customer should have saved $60, if he had taken out one loan for $3000 and option a is the correct choice.

6 0

2 years ago

Read 2 more answers

Find the approximate value of the circumference of a circle with the given radius. Use = 3.14. Round your results to one more de

oksano4ka [1.4K]

The answer would be D. 37.7 ft. I hope this helped ^^

7 0

2 years ago

Read 2 more answers

Kelvin and Lewie each design surveys in order to determine the average number of people who buy food at the mall. Kelvin surveys

Lisa [10]

Answer:

Lewie Survey produces less valid result.

Step-by-step explanation:

Given:

1. Kelvin surveys every other person leaving the food area.

2. Lewie surveys every fifth person leaving the mall's main entrance.

Therefore,

Kelvin will able to produce valid result as he is surveying every person who is leaving food court.

Means,

There are high chances that would have bought food from the court.

Whereas,

Lewie is surveying every fifth person leaving the the mall's entrance.

Therefore,

Here probability to produce valid result is less as they may have not buy food or they may visited other shops.

So, Lewie survey will produce less valid result.

8 0

2 years ago

Read 2 more answers

Marcus currently has $42 and plans to save an additional $5 each week to buy a pair of shoes. He made a table showing the total

Sidana [21]

Equation that represents therelationship between the nmber of weeks and total amount of money marcus will have saved is

Y= 5x+42

-5x +y =42

He currently has $42 with planning to save $5 each week. So, $5 per week is the slope and $42 is the y intercept.

3 0

2 years ago

Read 2 more answers

Based on what you learned about the economics of organic produce explain why buying organic food is so expensive and how that re

arlik [135]

Answer:

because this organic process need more time to produce food.

Step-by-step explanation:

since in the organic farming or agriculture, there is not use of hormones or pesticides, the plants and animals grow slowly, if they have more nutrients than the normal food, they spend more time, that is the reason why they are expensive, not just because the hour-human - work is bigger, also because the time to return the incomes are longer.

Hope this info is useful.

4 0

2 years ago

Read 2 more answers