Craig just purchased a new sports car. he financed $45,000 and must pay it back over 5 years with 11% interest. hiw much will he have paid in interest by the time his car is paid off?

The amount Craig financed at the beginning(P) = 45000

Number of years he took to repay(T) = 5

Rate of interest(R) = 11%

Total interest he paid =

= 450 × 55 = 24,750

Hence, interest paid by him by the time his car is paid off was $24750.

The amount Craig financed at the beginning(P) = 45000

Number of years he took to repay(T) = 5

Rate of interest(R) = 11%

Total interest he paid =

= 450 × 55 = 24,750

Hence, interest paid by him by the time his car is paid off was $24,750

answer:

payment just for service  

→

$

87.12

payment for service including tax

→

$

94.09

explanation:

service only with 20% tip  

→

$

72.6

(

1

+

20

100

)

=

$

87.12

in the opening of the question the word 'service' is associated only with the pretax value.

the closing part of the question asks: how much did she pay for the  

service

−−−−−−  

so technically the answer is  

→

$

72.6

(

1

+

20

100

)

=

$

87.12

however, the intention of the question provider may have been that your answer is to be  

$

87.12

(

1

+

8

100

)

=

$

94.09

to 2 decimal places.

'

payment just for service  

→

$

87.12

payment for service including tax

→

$

94.09

tony b

mar 21, 2017

answer:

trying to explain it another way

explanation:

service charge  

.

→

$

72.60

20% tip  

20

100

×

$

72.60

=

$

14.52

−−−−−−  

←

add

$

87.12

tax  

8

100

×

$

87.12

=

$

6.97

−−−−−  

←

add

$

94.09

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