SOLUTION: you bet $7 on a local race being held for charity. The payoff odds given by the charity event are 12:1. Find your net profit for winning your bet in the race.

Algebra ->  Test -> SOLUTION: you bet $7 on a local race being held for charity. The payoff odds given by the charity event are 12:1. Find your net profit for winning your bet in the race.      Log On


   



Question 1146058: you bet $7 on a local race being held for charity. The payoff odds given by the charity event are 12:1. Find your net profit for winning your bet in the race.
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
You receive 12*7=$84 which cost you $7
84-7=$77 profit