Eugene took out a loan for $1075 at a 12.6% APR, compounded monthly, to
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Let the total cost of the item be represented by C and the price be represented by P, then given that t<span>he total cost of an item including sales tax is directly proportional to its price, thus</span>
where k is a constant.
Given that <span>the total cost of a $32 item is $33.60, thus
Therefore, the total cost on a $55 item is given by
</span>
where k is a constant.
Given that <span>the total cost of a $32 item is $33.60, thus
Therefore, the total cost on a $55 item is given by