Answer:
Tyrone paid the higher markup rate.
Step-by-step explanation:
Tyrone and Terri both bought sofas with installment loans.
Tyrone bought his own with a sticker price of $1350 by paying $74 a month for 24 months. Therefore,
74 × 24 = $1776
The mark up = $1776 - $1350 = $426
Tyrone markup rate = 426/24 = $17.75 per month
Terri bought his own with sticker price of $950 by paying $52 a month for 24 months. Therefore,
52 × 24 = $1248
mark up = $1248 - $950 = $298
Terri markup rate = 298/24 = $12.4166666667 = $12.42 per month
Answer:
The amount of stock for which both brokers would charge the same commission is $2500.
Step-by-step explanation:
i) Let the amount of stock to be traded be worth $x
ii) therefore for both the brokers to charge the same commission we can write
1% of x = $25 
0.01
x = 25
x = 
The amount of stock for which both brokers would charge the same commission is $2500.
10 - 2.99 = 7.01 and 7.01 - 1.07 = 5.94 so you will get 5.94 in change