$1200 is the amount that he took out.

3% annually would yield an interest amount of $36.

Therefore, each month, he would be paying $3 a month.

Simple interest is given by  where  = interest,  = principal,  = rate, and  = time in years.

Remember, six months is the same as half of a year.  The total paid back to the bank is the principle plus the interest, or $2,562.50.

Since I have withdrawn $20, that means I only have $80 in my account.

 imples that

which is 6.25%.

Amount borrowed = $15,000 – $5,000 = $10,000

Interest of 4.3% = $10,000 * 0.043 = $430

Total cost of car = $5000 + $10000 + $430 = $15,430

To start, we see that Ted works for 20 hours per week for 10 weeks.  This means he works a total of 200 hours over the summer.  He is paid $9 dollars each hour.  Therefore he makes $9 x 200 hours = $1800 total over the summer.  He then has to pay 10% in taxes, or .1 x $1800, leaving him with .  He buys the bike for $500, so he has $1620 - $500 = $1,120 to deposit at the bank.

Now we have to find out how much he will have 5 years later.  Since the bank pays 5% interest each year, we know that he will make 5% of what he has each year.  He starts with $1,120.  5% of this value is .  Adding this to the original $1,120 gives us $1,176.

This is also the same as multiplying instead by 1.05.  We repeat this step 5 times, giving us:

Use the simple interest formula:

Interest equals the initial amount multiplied by the annual interest rate multiplied by the number of years:

Let = interest owed

Let = principal (aka the initial amount of the loan)

Let  = interest rate

Let  = years passed

Therefore:

The question tells us that the price in January was x. To find the price in February, we decrease the price of x by 20%, which is the same as taking 80% of x. (In general, a P% decrease of a number is the same as (100 – P)% times that number). Continue to take 0.8 times the previous month's price to find the next month's price until we have the price for June, as follows:

January Price: x

February Price: 0.8 * January Price = 0.8x

March Price: 0.8 * February Price = 0.8 * 0.8x = 0.8² * x

April Price: 0.8 * March Price = 0.8 * 0.8 * 0.8x = 0.8³ * x

May Price: 0.8 * April Price = 0.8 * 0.8 * 0.8 * 0.8x = 0.8⁴ * x

June Price: 0.8 * May Price = 0.8 * 0.8 * 0.8 * 0.8 * 0.8x = 0.8⁵ * x; therefore, the price in June was 0.8⁵ ≈ 0.328 ≈ 0.33 times the original price.

Set up the following ratio

50/500 = n/100 

The cost of the tablet decreased by $50. The original cost is $500; therefore, 50 is the numerator and 500 is the denominator on the left side of the ratio.

Since a percentage is a part of a whole, n symbolizes the the percentage decrease.

To solve for n, you can cross multiply. So, 50(100) = n(500).

n = 10%

To find the cost on Tuesday, take 10% off Monday's price. In other words, find 90% of Monday's price. This is simply 0.9x. If we are to now add 10% of this value back onto itself to find Wednesday's price, we want 100% + 10%, or 110% of 0.9x.

1.1(0.9x) = 0.99x

This value is 1% smaller than x.