7. Camping
If we assume each person eats stew once per day, then there are 8×3 = 24 meals of stew required.
Since each package serves 2 meals, 24/2 = 12 packages are needed. The cost for 12 packages is 12 times the cost for one package, so the total cost is
... 12×$4.95 = $59.40 . . . total cost of stew
8. Banking
The appropriate formula for computing interest (I) on a principal amount of P at rate r for time t is ...
... I = Prt
One bank
I = $500×2%×3 = $30
Another bank
I = $250×3%×4 = $30
Conclusion
Both CDs earn exactly the same amount of interest. Neither earns more.
