On June 1, five bills for electrical goods are sent out for the follow-ing amounts: $1,046.25, $952.40, $164.00, $1,150.00, and $518.00. OnDecember 1 of the same year, payment is received in full, with interestat the rate of 12% per annum. What is the total amount received?

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Answered: On June 1, five bills for electrical…

Elementary Geometry For College Students, 7e

7th Edition

ISBN:9781337614085

Author:Alexander, Daniel C.; Koeberlein, Geralyn M.

Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.

ChapterP: Preliminary Concepts

SectionP.CT: Test

Problem 1CT

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On June 1, five bills for electrical goods are sent out for the follow- ing amounts: $1,046.25, $952.40, $164.00, $1,150.00, and $518.00. On December 1 of the same year, payment is received in full, with interest at the rate of 12% per annum. What is the total amount received?