1. I will assume you want simple interest rather than compound interest, judging by the level of the other questions.
amount paid = 6(516.5) = 3099
interest paid = 99
I = PRT
R = I/(PT) = 99/((3000)(.5)) = .066 or 6.6%
How did you get .33% ????
2. This question makes little sense to me
3. deposit = (667.5+126.5+482-25) = $1251
Where did you get the 75 cents from ??
4. taxes = .02(2000) + .03(4000) + .045(4000) + .06(10900)
= 994
5. I would add 5.5+4.125+2.75+2.75
= 15.125
I would round it off to 15.1 , since the least accurate measurement only has one decimal
1. Rishi ram obtained an installment loan for $3,000.00. He agreed to repay the loan in 6 monthly payments. His monthly payments is $516.50. What is the APR?
MY ANSWER=0.33%
2. Tim Newman took out a simple interest loan of $1500 at a 10 percent interest for 12 months. After 4 payments, the balance is $1100. He pays off the loan when the next payment is due. What is the interest?
MY ANSWER=$9.17
3. Lincoln cook has a check for $667.50 and a check for $126.50. he also has $482 in cash. He would like to receive $25 in cash and deposit the rest of the money into his bank account. What is the total deposit?
MY ANSWER= $1250.75
4. Amanda Sabino's taxable income is $20,900.00. How much will she pay in state tax?
Tax Table-
First $2,000: 2.0% rate
Next $4,000: 3.0% rate
Next $4,000: 4.5% rate
Over $10,000: 6.0% rate
MY ANSWER=$1254
5. Rainfall measured 5.5 inches in June, 4.125 inches in July and 2.75 inches in both august and September. What was the total amount of rainfall for all the months?
MY ANSWER=I am unsure if it is 15.125 or 12.375 because it does not specify if the rainfall for August and September is the total amount, or for each month. Also, am I supposed to round the numbers?
1 answer
1 answer