posted by renee
Find the best buy on pasta sauce
a. 45oz for $1.59
b. 1qt 16 oz for $1.99
c. 1qt. for $1.29
d. 48 oz for $1.79
my answer is A
15. Identify the base in the following statement 11% of what is 77?
my answer is the base is What number
16. Identify the amount in the following application represent the amount: Dave invested $8,500 in a time deposit. What interest will he earn for 2 years if the interest rat is 4.75%? my answer is the amount $8,500
(a) is correct for the first question
15. The answer is 700 (77/0.11). I don't know why they call it the "base". 700 is the "what" in the question.
15. No way can he double his money in two years at 4.75% interest. With monthly compounding, he will earn 4.85% per year, or 9.95% after two years. With simple interest (no compounding), he would earn 2 x 4.75% = 9.5%. That is just over $800.