Question

Jerry needs some quick cash and decides to pawn his diamond ring, which is appraised at $750. The pawnbroker agrees to give Jerry a loan for 15 percent of the ring's appraised

value. What is the amount of the loan the pawnbroker made to Jerry?




Please help

Answer 1

The amount of the loan would be 112.50 since the intrest is 15% and it is appraised at 750

Answer 2

the amount of the loan the pawnbroker made to Jerry is $112.50

Step-by-step explanation:

In order to find 15% of $750, one method is dividing 750 into 100 to find the value of 1%.

750 ÷ 100 = 7.5

Now we know the value of 1% is $7.50, so all we have to do is multiply that by 15.

7.5 × 15 = 112.5

Therefore, the amount of the loan the pawnbroker made to Jerry is $112.50