Aloan has an apr of 20%. the loan is for $2,000 with an interest rate of 14% for 1 year. what are the non-interest fees on the loan?

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lestessanders02

15.05.2022

Mathematics

Cost of a hat bought by Marcel = $\$ 21.99$

Cost of a pair of socks = $\$ 3.99$

Cost of 2 pair of socks = $2 \times 21.99$ = $\$ 7.98$

Total price of hat and two pair of socks = $\$ (21.99 + 7.98) = \$ 29.97$

A sales tax of $7.5 \%$ on this purchase = $7.5 \% \times \$29.97$

= $\frac{7.5}{100} \times 29.97$ = $\$$ 2.25

Therefore, the total price including the sales tax = $\$ 29.97 + \$ 2.25$

= $\$ 32.22$

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