Question

1a) Sara sells a car that was priced at $8,500.00. If she makes a commission of 6.5%, how much will she make? *

Answer 1

$552.50

Explanation:

The formula we'll use for this is the simple interest formula, or:

`I=P*R`

Where:

P is the principal amount, $8500.00.

R is the interest rate, 6.5% per year, or in decimal form, 6.5/100=0.065.

To find the simple interest, we multiply 8500 × 0.065 to get that:

The interest is: $552.50

Answer 2

$552.50

Explanation:

To find how much she will make, find 6.5% of 8500

8500(0.065)

= 552.5

So, she will make $552.50