Solve the Problem $\frac { 1 } { 8 } .$

question 130

Multiple Choice

Solve the problem.
-John presently earns $96 a week doing yard chores after school. After 3 months, his pay will Increase by $\frac { 1 } { 8 } .$ How much will he then earn per week?

• A) $153.60
• B) $78.75
• C) $128.00
• D) $108.00

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Definitions:

Mutual Fund

An investment vehicle made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments, and other assets.

Deposit

A sum of money placed into an account or given to a party as security for the fulfillment of a contract.

Return

The gain or loss on an investment over a specific period, typically expressed as a percentage of the investment's initial cost.

Annuity

An annuity is a financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees.