Suppose That Agatha Had $270 to Spend on Tickets

question 8

Multiple Choice

Suppose that Agatha had $270 to spend on tickets for her trip.She needs to travel a total of 1,500 miles.Suppose that the price of first-class tickets is $.30 per mile and the price of second-class tickets is $.10 per mile.How many miles will she travel by second class?

• A)1,000
• B)450
• C)1,050
• D)900
• E)300

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Definitions:

Monthly Interest Rate

The percentage of interest that is charged or earned on a loan, deposit, or investment over a month's period.

Cash Only Credit Policy

A credit policy where a company does not extend credit and only accepts cash payments.

Net 30 Policy

A payment term used in business transactions that requires payment to be made in full within 30 days of the invoice date.

Average Collection Period

The average number of days it takes for a company to receive payments owed by its customers.