Summers Little
11/27/2023 · Senior High School
Decide if it would be more appropriate to make an estimate or to do an exact calculation in each situation. Give your answer and specify if the number represents an estimate or a calculation. You borrowed money and need to pay interest on the loan. You must pay \( 5 \% \) of the \( \$ 6700 \) loan to remain in good standing with your bank. Part A: Should you estimate or calculate? Answer: O.calculate Part B: What amount will you pay? Answer: \( \$ \)
UpStudy ThothAI Solution
Tutor-Verified Answer
Step-by-step Solution
Part A: Should you estimate or calculate?
Answer: Calculate
Part B: What amount will you pay?
To calculate the amount you will pay, you need to find \( 5 \% \) of \( \$ 6700 \).
Let's calculate this:
Calculate the value by following steps:
- step0: Calculate:
\(5\%\times 6700\)
- step1: Use \(p\%=p \times 0.01:\)
\(5\times 0.01\times 6700\)
- step2: Calculate:
\(0.05\times 6700\)
- step3: Multiply the numbers:
\(335\)
The amount you will pay is $335. This is the exact calculation of \( 5 \% \) of $6700.
Quick Answer
Part A: Calculate
Part B: \( \$335 \)
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