Use Estimation to Select the Best Response

question 44

Short Answer

Use estimation to select the best response. Do not calculate.
If you purchase an item for $7,995 at an interest rate of 9.4%, and you finance it for 4 years, then the amount of add-on interest is about:
Choose 288, 2,880, or 8,640.
$ __________

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Definitions:

Algebraic Expression

A mathematical phrase that can contain ordinary numbers, variables (like x or y), and operators (like add, subtract, multiply, and divide).

Janitorial Department

A division within a business that is responsible for maintaining the cleanliness of the premises.

Maintenance Department

The Maintenance Department is a functional division within a company responsible for the upkeep, repair, and preservation of equipment, facilities, and infrastructure.

Sequential Method

A technique in cost accounting where support department costs are allocated to other departments in a specific sequential order, taking into consideration the services provided by each support department.