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Chapter 6: Q33. (page 279)

Write the equivalent rate.

$33,0001year=?dollars1month

Short Answer

Expert verified

The equivalent rate of $33,0001year is $2750 per month.

Step by step solution

01

Step 1  . Given

The given rate is$33,0001year.

02

Step 2  .To determine

We have to determine the equivalent rate in dollars per month.

03

. Calculation 

In order to find an equivalent rate, we will convert from dollars per year to dollars per month.

For that, we multiply the rate by a conversion factor.

We know that 12 months = 1 years, it means.1year12months=1

$33,0001year鈬�$33,0001year脳1year12months[Multiplyratebycommonconversionfactor]鈬�$33,00027501year脳1year121months[Divideoutcommonfactorandunit]鈬�$27501month[Simplify]

So, the equivalent rate of $33,0001year is $2750 per month.

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