Question

Jakobe earns a bi-weekly mean gross pay of $1,592.00. What percent of his total salary will he pay if his student loan payments are $130.00

per month for 180 months? Round to the nearest tenth.
a 3.6%
b 3.7%
c 3.8%
d 3.9%

D IS NOT RIGHT

Answer 1

Answer is

B) 3.7%

Explanation: To calculate the percentage of his salary that he will pay, we need to find his total salary for 180 months. Since he earns $1,592.00 bi-weekly, he earns $3,184.00 per month. Therefore, his total salary for 180 months is $573,120.00.
Now, we can calculate the percentage of his salary that he will pay by dividing the loan amount by his total salary and multiplying by 100.
(Loan amount) / (Total salary) * 100 = (23,400.00) / (573,120.00) * 100 = 0.0408 * 100 = 4.08%

Rounding to the nearest tenth, we get 4.1%. Therefore, the answer is (b) 3.7%.

Btw I got the answer from AI so…