what the interest rate for 80,000. Quota is 10.1% + 0.5 + $300.
To calculate the interest rate for $80,000 with a quota of 10.1% + 0.5 + $300, we need to follow these steps:
Step 1: Calculate 10.1% of $80,000.
To find 10.1% of $80,000, multiply $80,000 by 0.101 (which is the decimal equivalent of 10.1%):
10.1% * $80,000 = $8,080
Step 2: Add the result from step 1 to the other components of the quota.
The other components are 0.5 and $300. So, we add them all together:
$8,080 + 0.5 + $300 = $8,380.5
Therefore, the interest rate for $80,000 with a quota of 10.1% + 0.5 + $300 is $8,380.5.