Hakim saves money for one year to buy a computer.

hakim invests $\$700$ 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 $750.00$. 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.

respond in the space provided.

$111

Step-by-step explanation:

First we need to take a look at the bank account of Hakim. Hakim initially invested $700 in the bank with a 5% simple interest annually. Since Hakim waited for an entire year before buying the computer, he will then have the extra 5% interest from the bank.

Let's first compute for how much Hakim will have in total in the bank.

A = P(1 + rt)

P = 700 Initial Investment

r = 5% or 0.05 Interest

t = 1 Year

A = 700(1 + (0.05 x 1))

A = 700(1 + 0.05)

A = 700(1.05)

A = 735

So now we know that Hakim has a total of $735 in his bank account.

Now let's move on to calculating the total cost of the computer. We know that the sales tax is always computed after the discounted price.

So first we find the discounted price.

x = 750

d = 20% or 0.20

Discount = 750 x 0.20

Discount = 150

Now that we have the discount of the computer, we then simply subtract the discount to the initial price.

750 - 150 = 600.

The computer will then cost $600 with the discounted price.

Now we have to find the sales tax.

Sales Tax = 4% or 0.04

Total Discounted Price = 600

600 x 0.04 = $24

Now that we have the sales tax, we simply add the sales tax to the discounted price.

600 + 24 = 624.

Now that we know how much the total cost of the computer is with the discount and sales tax, we simply subtract the total cost of the computer to Hakim's current account balance.

735 - 624 = 111

Hakim will have a total of $111 in his bank account after purchasing the computer.

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step-by-step explanation:

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