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st23pgardner
st23pgardner
10.11.2020 • 
Mathematics

Tyrone and Terri both bought sofas with installment loans. Tyrone bought a sofa with a sticker price of $1350 by paying $74 a month for 24 months, while Terri bought a sofa with a sticker price of $950 by paying $52 a month for 24 months. Both Tyrone and Terri hate paying interest, so they're trying to find out who paid the higher markup rate. Help them figure out the answer. What is the total amount of money that Tyrone paid?
How much money did Tyrone pay in interest?
What was the markup rate on Tyrone's sofa? Round your answer to two decimal places.
What is the total amount of money that Terri paid?
How much money did Terri pay in interest?
What was the markup rate on Terri's sofa? Round your answer to two decimal places.

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