The yearlyrate of interest is equivalent to the extra cost paid by taking the plan of $100 down and payments of $25 for the next 12 months is 25%
Option C is the correct answer.
It is the interest calculated on the principal at a given rate for a time period.
We have,
Sarah bought a lawnmower for $320.
Principal = $320
She signed up for the buy now pay later plan at the store with the following conditions:
$100 down and payments of $25 for the next 12 months.
This means,
Amount paid = $100
Amount paid for the next 12 months = $25
The totalamount paid in 12 months:
= 100 + 12 x 25
= 100 + 300
= $400
The extraamount paid:
= 400 - 320
= $80
The yearlyrate of interest:
Simple interest = Principal x Rate x Time / 100
80 = (320 x Rate x 1) / 100
8000 = 320 x Rate
Rate = 8000 / 320
Rate = 25%
Thus,
The yearlyrate of interest is equivalent to the extra cost paid by taking the plan of $100 down and payments of $25 for the next 12 months is 25%
Option C is the correct answer.
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If the original value of a car is $18,000, and it loses value by 15% each year, then you can calculate the new value of the car after n years using following formula:
When n=3, then
Answer: the value of the car after 3 years is $11,054.25.
I think the answer would be 11,054.25$
the answer is C
Step-by-step explanation: