Question 1144762
He paid:
{{{ .2*350000 = 70000 }}}
{{{ 350000 - 70000 = 280000 }}}
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{{{ I = P*r*t }}}
{{{ I = 280000*.07*8 }}}
{{{ I = 156800 }}}
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(a)
{{{ 70000 + 280000 + 156800 = 576800 }}}
$576,800
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(b)
{{{ 156800 / 350000 = .448 }}}
44.8% increase
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(c)
{{{ 460000 - 10000 = 450000  }}}
{{{ 576800 - 450000 = 126800 }}}
{{{ 126800 / 576800 = .2198 }}}
22% loss
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Definitely get a 2nd opinion if needed