Real Estate Agent: A woman bought 4 lots for $48,000 each. She then subdivided

them into a total of 7 lots that sold for $33,000 each. What was

her percent of profit? I

Savings and Loan Counselor:

A customer wishes to borrow $30,000, make monthly payments

of interest only, and pay the full amount of the principal at the

end of the term. If the interest rate is 12% annually, what are the

monthly payments for a five-year term?

Step-by-step explanation:

A.

Cost of 4 lots for $48,000= 48000*4

=$192,000

Sales made from all 7 lots = 33000*7

= $213,000

Profit =213,000-192,000

Profit =$39,000

Percent profit =(39000/192000) *100

=0.20*100

=20%

B.

Total interest formula=

Principal Loan Amount x Interest Rate x Time

Interest =30000x0.12x5

Interest = $18,000

Monthly payments for 5 years

= 18000/12*5

=18000/60

=$300

step-by-step explanation:

you can add the two numbers and divide the result by 2. or you can find the gap between the two numbers and add half of this to the smaller number.