1.
1 answer:
Amount Financed: $2,650
Finance Charge: $484.69
Number of Payments: 36
(Finance Charge)/(Amount Financed)*100$=($484.69)/($2,650)*100$
(Finance Charge)/(Amount Financed)*100$=(0.1829)*100$
(Finance Charge)/(Amount Financed)*100$=$18.29
In the row of number of Payments 36, we look for:
(Finance Charge)/(Amount Financed)*100$=$18.29, and we see to which annual porcentage rate it corresponds in the first row
Answer: 11.25%
Finance Charge: $484.69
Number of Payments: 36
(Finance Charge)/(Amount Financed)*100$=($484.69)/($2,650)*100$
(Finance Charge)/(Amount Financed)*100$=(0.1829)*100$
(Finance Charge)/(Amount Financed)*100$=$18.29
In the row of number of Payments 36, we look for:
(Finance Charge)/(Amount Financed)*100$=$18.29, and we see to which annual porcentage rate it corresponds in the first row
Answer: 11.25%
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C. 502
All you need to do is multiply the number if sales by the percentage in decimal form. Using DPR I know that 11% is equal to 0.11, so 4,560(0.11) is 501.60. That can be rounded to 502 sales that were shirts.
All you need to do is multiply the number if sales by the percentage in decimal form. Using DPR I know that 11% is equal to 0.11, so 4,560(0.11) is 501.60. That can be rounded to 502 sales that were shirts.