Hakim invests 0 in a bank that pays 5% simple interest annually. After one year he uses the money in his account to buy a computer. The original cost of the computer is 0.00 . The computer is on sale for a 20% discount off of the original cost. The sales tax is 4% of the sale price.

After purchasing the computer, how much does Hakim have left in his bank account? Show your work.

Answers

The final cost of the computer can be calculated as ...   (original cost)*(1 -0.20)*(1 +0.04)   = $750*0.80*1.04 = $624.00 The ending balance on Hakim's bank account is   $700 +700*.05 = $735.00 The amount remaining after Hakim pays for the computer is   $735.00 -624.00 = $111.00


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