If you bought a stock last year for a price of 103$ and it has risen 1.5% since then how much is in stock now, to to nearest cent

$104.55

Step-by-step explanation:

To add 1.5% (since it rose 1.5%), we can multiply our original amount by 1.5/100 and add that to our original. Therefore, our answer is 103*1.5/100+103=104.545, rounded to $104.55

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

the 8 in 8,420 is in the thousands place so it's value is 8 thousand.

the 8 in 6,870 is in the hundreds place so it's value is 8 hundred.

divide 8000 by 800 to find the answer:

8000 / 800 = 10

the 8 in 8,420 is 10 times greater than the 8 in 6,870